Over the past month we post­ed a three-part series on How to Review a Pri­vate Place­ment Mem­o­ran­dum (PPM). We addressed the PPM and the appli­ca­tion to a Delaware Statu­to­ry Trust (DST). Here is the abstract of the paper as well as a link to the entire White Paper.

Octo­ber 30, 2025

By Al DiNi­co­la, AIF®
1031 Tax Deferred Exchange Spe­cial­ists & DST Advi­sor
NAMCOA® — Naples Asset Man­age­ment ~Com­pa­ny®, LLC
Secu­ri­ties offered through MSC-BD, LLC, Mem­ber of FINRA/SIPC

Abstract

This white paper explores the crit­i­cal impor­tance of thor­ough­ly under­stand­ing the Pri­vate Place­ment Mem­o­ran­dum (PPM) when con­sid­er­ing invest­ment in a Delaware Statu­to­ry Trust (DST) as part of a Sec­tion 1031 tax-deferred exchange. PPMs are uti­lized in pri­vate place­ment offer­ings for a vari­ety of struc­tures. PPMs are required to be deliv­ered to investors pri­or to the investor pro­vid­ing cap­i­tal to invest. As DSTs have become an increas­ing­ly pop­u­lar vehi­cle for defer­ring cap­i­tal gains tax­es through like-kind real estate exchanges, investors must nav­i­gate com­plex legal and finan­cial struc­tures. The PPM serves as the pri­ma­ry dis­clo­sure doc­u­ment, out­lin­ing key details such as invest­ment strat­e­gy, risk fac­tors, fee struc­tures, prop­er­ty specifics, spon­sor back­ground, and legal oblig­a­tions. Mis­in­ter­pret­ing or over­look­ing infor­ma­tion in the PPM can expose investors to unin­tend­ed risks, tax con­se­quences, or illiq­uid­i­ty. This white paper aims to demys­ti­fy the PPM and high­light the due dili­gence nec­es­sary to align DST invest­ments with long-term finan­cial goals, ensur­ing reg­u­la­to­ry com­pli­ance and max­i­miz­ing the ben­e­fits of the 1031 exchange. This is not an offer to pur­chase secu­ri­ties.

Click below to access the com­plete paper.

The White Paper- PPM & DSTs

NAMCOA® is a SEC reg­is­tered invest­ment advi­so­ry firm that pro­vides com­pre­hen­sive port­fo­lio man­age­ment, finan­cial plan­ning, and fidu­cia­ry deci­sion-mak­ing ser­vices on behalf of retire­ment plan spon­sors. Our Dif­fer­ence is sum­ma­rized by our fidu­cia­ry approach which enables us to bet­ter meet port­fo­lio and retire­ment plan objec­tives, result­ing in stronger risk adjust­ed returns for investors and peace of mind for Clients. We also focus on alter­na­tive real estate invest­ment. Many real estate investors are seek­ing tax deferred solu­tions uti­liz­ing §1031 exchanges or Oppor­tu­ni­ty Zones.

Alter­na­tive invest­ments and DSTs are not for all investors.  The acqui­si­tion of a cer­tain alter­na­tive invest­ments includ­ing DSTs is for accred­it­ed investors only.  Con­tact your invest­ment advis­er for addi­tion­al details on how a DST may be a solu­tion to your §1031 Exchange and suit­ed for your invest­ment future. For more infor­ma­tion on how to prop­er­ly set up an IRC §1031Tax Deferred Exchange or if you are an accred­it­ed investor and would like addi­tion­al infor­ma­tion on a DST con­tact Al DiNi­co­la at 239–691-8098 or email adinicola@namcoa.com.

This is not an offer to pur­chase or solic­i­ta­tion to pur­chase any secu­ri­ty, as such be made only through an offer­ing mem­o­ran­dum or prospec­tus.  Invest­ing in secu­ri­ties, real estate, or any invest­ment, whether pub­lic or pri­vate, involves risk, includ­ing but not lim­it­ed to the poten­tial of los­ing some or all of your invest­ment dol­lars when you invest in secu­ri­ties. You should review any planned finan­cial trans­ac­tions that may have tax or legal impli­ca­tions with your per­son­al tax or legal advi­sor.   NAMCOA, LLC is a Reg­is­tered Invest­ment Advi­sor, reg­u­lat­ed by SEC (Secu­ri­ties and Exchange Com­mis­sion). Our cor­po­rate office is locat­ed at 999 Van­der­bilt Beach Road, Suite 200, Naples Flori­da 34108. Secu­ri­ties Offered through MSC-BD, LLC, Mem­ber of FINRA/SIPC. 5 Cen­ter­pointe Dri­ve, Ste. 400 Lake Oswego, OR, 97035MSC-BD, LLC and NAMCOA are inde­pen­dent­ly owned and are not affil­i­at­ed.

Thank you.