The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM D

Notice of Exempt Offering of Securities
OMB APPROVAL
OMB Number: 3235-0076
Estimated average burden
hours per response: 4.00

1. Issuer's Identity

CIK (Filer ID Number) Previous Names
X None
Entity Type
0001661515
   Corporation
   Limited Partnership
   Limited Liability Company
   General Partnership
   Business Trust
X Other (Specify)

Delaware Statutory Trust
Name of Issuer
National Net Lease Portfolio VII DST
Jurisdiction of Incorporation/Organization
DELAWARE
Year of Incorporation/Organization
   Over Five Years Ago
X Within Last Five Years (Specify Year) 2015
   Yet to Be Formed

2. Principal Place of Business and Contact Information

Name of Issuer
National Net Lease Portfolio VII DST
Street Address 1 Street Address 2
2901 BUTTERFIELD ROAD
City State/Province/Country ZIP/PostalCode Phone Number of Issuer
OAK BROOK ILLINOIS 60523 630-218-8000

3. Related Persons

Last Name First Name Middle Name
Inland Private Capital Corporation
Street Address 1 Street Address 2
2901 Butterfield Road
City State/Province/Country ZIP/PostalCode
Oak Brook ILLINOIS 60523
Relationship:    Executive Officer    Director X Promoter

Clarification of Response (if Necessary):

Sponsor of the Issuer.
Last Name First Name Middle Name
National Net Lease Portfolio VII DST
Street Address 1 Street Address 2
2901 Butterfield Road
City State/Province/Country ZIP/PostalCode
Oak Brook ILLINOIS 60523
Relationship:    Executive Officer    Director X Promoter

Clarification of Response (if Necessary):

Depositor of the Issuer
Last Name First Name Middle Name
National Net Lease Portfolio VII DST
Street Address 1 Street Address 2
2901 Butterfield Road
City State/Province/Country ZIP/PostalCode
Oak Brook ILLINOIS 60523
Relationship:    Executive Officer    Director X Promoter

Clarification of Response (if Necessary):

Signatory Trustee of the Issuer.
Last Name First Name Middle Name
Lampi Keith
Street Address 1 Street Address 2
2901 Butterfield Road
City State/Province/Country ZIP/PostalCode
Oak Brook ILLINOIS 60523
Relationship: X Executive Officer    Director    Promoter

Clarification of Response (if Necessary):

Mr. Lampi is the President of Inland Private Capital Corporation, the Member of National Net Lease Portfolio VII DST.

4. Industry Group

   Agriculture
Banking & Financial Services
   Commercial Banking
   Insurance
   Investing
   Investment Banking
   Pooled Investment Fund
Is the issuer registered as
an investment company under
the Investment Company
Act of 1940?
   Yes    No
   Other Banking & Financial Services
   Business Services
Energy
   Coal Mining
   Electric Utilities
   Energy Conservation
   Environmental Services
   Oil & Gas
   Other Energy
Health Care
   Biotechnology
   Health Insurance
   Hospitals & Physicians
   Pharmaceuticals
   Other Health Care
   Manufacturing
Real Estate
   Commercial
   Construction
   REITS & Finance
   Residential
X Other Real Estate
  
 Retailing
  
 Restaurants
Technology
   Computers
   Telecommunications
   Other Technology
Travel
   Airlines & Airports
   Lodging & Conventions
   Tourism & Travel Services
   Other Travel
  
 Other

5. Issuer Size

Revenue Range OR Aggregate Net Asset Value Range
   No Revenues    No Aggregate Net Asset Value
   $1 - $1,000,000    $1 - $5,000,000
   $1,000,001 - $5,000,000    $5,000,001 - $25,000,000
   $5,000,001 - $25,000,000    $25,000,001 - $50,000,000
   $25,000,001 - $100,000,000    $50,000,001 - $100,000,000
   Over $100,000,000    Over $100,000,000
X Decline to Disclose    Decline to Disclose
   Not Applicable    Not Applicable

6. Federal Exemption(s) and Exclusion(s) Claimed (select all that apply)

   Rule 504(b)(1) (not (i), (ii) or (iii))
   Rule 504 (b)(1)(i)
   Rule 504 (b)(1)(ii)
   Rule 504 (b)(1)(iii)
   Rule 505
X Rule 506(b)
   Rule 506(c)
   Securities Act Section 4(a)(5)
   Investment Company Act Section 3(c)
   Section 3(c)(1)    Section 3(c)(9)  
   Section 3(c)(2)    Section 3(c)(10)
   Section 3(c)(3)    Section 3(c)(11)
   Section 3(c)(4)    Section 3(c)(12)
   Section 3(c)(5)    Section 3(c)(13)
   Section 3(c)(6)    Section 3(c)(14)
   Section 3(c)(7)

7. Type of Filing

   New Notice Date of First Sale 2015-12-22    First Sale Yet to Occur
X Amendment

8. Duration of Offering

Does the Issuer intend this offering to last more than one year?
   Yes X No

9. Type(s) of Securities Offered (select all that apply)

   Equity    Pooled Investment Fund Interests
   Debt    Tenant-in-Common Securities
   Option, Warrant or Other Right to Acquire Another Security    Mineral Property Securities
   Security to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire Security X Other (describe)
Beneficial interests in Delaware Statutory Trust reflecting beneficial interests in real estate.

10. Business Combination Transaction

Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer?
   Yes X No

Clarification of Response (if Necessary):

11. Minimum Investment

Minimum investment accepted from any outside investor $25,000 USD

12. Sales Compensation

Recipient
Recipient CRD Number    None
William S. Sheehan 2328614
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
DFPG Investments, Inc. 155576
Street Address 1 Street Address 2
2 Orr Hatch Drive
City State/Province/Country ZIP/Postal Code
Cornwall NEW YORK 12518
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
NEW YORK
Recipient
Recipient CRD Number    None
Mark O. Coombe 2733655
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
432 W. 11th Avenue
City State/Province/Country ZIP/Postal Code
Eugene OREGON 97401
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
OREGON
Recipient
Recipient CRD Number    None
Jeffrey L. Tiona 2685872
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Commonwealth Financial Network 8032
Street Address 1 Street Address 2
736 Whalers Way, STE G110
City State/Province/Country ZIP/Postal Code
Fort Collins COLORADO 80910
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
SOUTH DAKOTA
Recipient
Recipient CRD Number    None
Barbara L. Klenovich 1290087
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
FSC Securities Corporation 7461
Street Address 1 Street Address 2
4456 S. Whispering Circle
City State/Province/Country ZIP/Postal Code
Colorado Springs COLORADO 80917
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
NORTH CAROLINA
Recipient
Recipient CRD Number    None
Carmen D. Morrone Jr. 1898874
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
National Securities Corporation 7569
Street Address 1 Street Address 2
901 SW Martin Down Blvd, STE 306
City State/Province/Country ZIP/Postal Code
Palm City FLORIDA 34990
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
NEW YORK
Recipient
Recipient CRD Number    None
Davin J. Carey 5413012
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
HD Vest Investment Services 13686
Street Address 1 Street Address 2
1000 Town Center Drive, STE 200
City State/Province/Country ZIP/Postal Code
Oxnard CALIFORNIA 93036
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
Recipient
Recipient CRD Number    None
Bruce A. Carroll 1319858
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Harbour Investments, Inc. 19258
Street Address 1 Street Address 2
125 S Main Street, STE 2
City State/Province/Country ZIP/Postal Code
Verona WISCONSIN 53593
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
WISCONSIN
Recipient
Recipient CRD Number    None
Stephen P. Meskan 2001506
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Feltl & Company 6095
Street Address 1 Street Address 2
190 South LaSalle Street, STE 2160
City State/Province/Country ZIP/Postal Code
Chicago ILLINOIS 60603
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
ILLINOIS
KANSAS
Recipient
Recipient CRD Number    None
Gordon T. Hamilton 5028789
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Parkland Sercuities, LLC 115368
Street Address 1 Street Address 2
5875 Lehamn Drive STE 201E
City State/Province/Country ZIP/Postal Code
Colorado Springs COLORADO 80918
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
COLORADO
Recipient
Recipient CRD Number    None
William M. Upson 1241673
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Royal Alliance Associates, Inc. 23131
Street Address 1 Street Address 2
1990 N. California Blvd, 8th Floor
City State/Province/Country ZIP/Postal Code
Walnut Creek CALIFORNIA 94596
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
Recipient
Recipient CRD Number    None
Roger E. Sulhoff 1057321
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
The Strategic Financial Alliance, Inc. 126514
Street Address 1 Street Address 2
329 Oak Street, STE 201
City State/Province/Country ZIP/Postal Code
Gainsville GEORGIA 30501
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
GEORGIA
Recipient
Recipient CRD Number    None
William A. Morrow 836500
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Independent Financial Group, LLC 7717
Street Address 1 Street Address 2
5075 Shoreham Place, STE 200
City State/Province/Country ZIP/Postal Code
San Diego CALIFORNIA 92122
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
Recipient
Recipient CRD Number    None
Brian Heal 4719085
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Woodbury Financial Services, Inc. 421
Street Address 1 Street Address 2
312 Shrewsbury Ave, STE 2
City State/Province/Country ZIP/Postal Code
Red Bank NEW JERSEY 07701
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
NEW YORK
Recipient
Recipient CRD Number    None
Ryan S. Cook 4770480
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
1112 East Ohio
City State/Province/Country ZIP/Postal Code
Clinton MISSOURI 64735
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
MISSOURI
Recipient
Recipient CRD Number    None
James M. Gambaccini 4619759
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
The Strategic Financial Alliance, Inc. 126514
Street Address 1 Street Address 2
1875 Campus Commons Drive, STE 100
City State/Province/Country ZIP/Postal Code
Reston VIRGINIA 20191
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
MASSACHUSETTS
Recipient
Recipient CRD Number    None
Daniel L. Whittenburg 2181920
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Lincoln Financial Advisors Corporation 3978
Street Address 1 Street Address 2
3165 East Millrock Drive, STE 300
City State/Province/Country ZIP/Postal Code
Salt Lake City UTAH 84121
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
UTAH
Recipient
Recipient CRD Number    None
Gary L. Chapman 5244594
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Berthel, Fisher & Company Financial Services, Inc. 13609
Street Address 1 Street Address 2
111 Monument Circle, STE 200
City State/Province/Country ZIP/Postal Code
Indianapolis INDIANA 46204
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
INDIANA
Recipient
Recipient CRD Number    None
Scott A. Saylor 5616670
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Sigma Financial Corporation 14303
Street Address 1 Street Address 2
1282 Kirts Blvd, STE 300
City State/Province/Country ZIP/Postal Code
Troy MICHIGAN 48084
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
MICHIGAN
Recipient
Recipient CRD Number    None
David L. Funk 2901355
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
4306 East State Boulevard
City State/Province/Country ZIP/Postal Code
Fort Wayne INDIANA 46815
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
INDIANA
Recipient
Recipient CRD Number    None
Randy C. Cox 2544998
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
FSC Securities Corporation 7461
Street Address 1 Street Address 2
3115 Ft. Worth Highway, #300
City State/Province/Country ZIP/Postal Code
Hudson Oaks TEXAS 76087
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
TEXAS
Recipient
Recipient CRD Number    None
Daniel P. Raupp 4079107
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Concorde Investment Services, LLC 151604
Street Address 1 Street Address 2
417 East Main Street, 3rd Floor
City State/Province/Country ZIP/Postal Code
Port Jefferson NEW YORK 11777
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
NEW YORK
Recipient
Recipient CRD Number    None
Daniel G. Dillard 4289333
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Sagepoint Financial, Inc. 133763
Street Address 1 Street Address 2
8711 Burnet Rd, STE F60
City State/Province/Country ZIP/Postal Code
Austin TEXAS 78757
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
TEXAS
Recipient
Recipient CRD Number    None
Chad E. Henry 4534292
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Sigma Financial Corporation 14303
Street Address 1 Street Address 2
352 1/2 West State Street
City State/Province/Country ZIP/Postal Code
Sycamore ILLINOIS 60178
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
ILLINOIS
Recipient
Recipient CRD Number    None
Troy A. Oates 6061425
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Sigma Financial Corporation 14303
Street Address 1 Street Address 2
352 1/2 West State Street
City State/Province/Country ZIP/Postal Code
Sycamore ILLINOIS 60178
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
ILLINOIS
Recipient
Recipient CRD Number    None
Douglas W. Mccown 2113482
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Sagepoint Financial, Inc. 133763
Street Address 1 Street Address 2
6031 W. Interstate 20
City State/Province/Country ZIP/Postal Code
Arlington TEXAS 76017
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
TEXAS
Recipient
Recipient CRD Number    None
Eric A. Bicknese 2829451
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Nationwide Planning Assoicates, Inc. 31029
Street Address 1 Street Address 2
375 Route 32
City State/Province/Country ZIP/Postal Code
Central Valley NEW YORK 10917
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
NEW JERSEY
Recipient
Recipient CRD Number    None
Silver Portal Capital, LLC 114290
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Silver Portal Capital, LLC 114290
Street Address 1 Street Address 2
12265 EL Camino Real, Suite 230
City State/Province/Country ZIP/Postal Code
San Diego CALIFORNIA 92130
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
COLORADO
FLORIDA
MINNESOTA
Recipient
Recipient CRD Number    None
Joseph W. Brezden 1293907
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Lincoln Financial Advisors Corporation 3978
Street Address 1 Street Address 2
18400 Von Karman Avenue, Suite 400
City State/Province/Country ZIP/Postal Code
Irvine CALIFORNIA 92612
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
Recipient
Recipient CRD Number    None
Michael J. Brezden 5982363
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Lincoln Financial Advisors Corporation 3978
Street Address 1 Street Address 2
18400 Von Karman Avenue, Suite 400
City State/Province/Country ZIP/Postal Code
Irvine CALIFORNIA 92612
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
Recipient
Recipient CRD Number    None
William Lapiana 4580411
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Newbridge Securities Corporation 104065
Street Address 1 Street Address 2
225 W. 35th Street, 16th Floor-Suite 100
City State/Province/Country ZIP/Postal Code
New York NEW YORK 10001
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
NEW JERSEY
Recipient
Recipient CRD Number    None
Joseph E. Biloon 4234070
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Lincoln Financial Securites Corporation 3870
Street Address 1 Street Address 2
5818 Kennett Pike
City State/Province/Country ZIP/Postal Code
Wilmington DELAWARE 19807
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
DELAWARE
Recipient
Recipient CRD Number    None
Dan A. Pias 2267643
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Royal Alliance Associates, Inc. 23131
Street Address 1 Street Address 2
11272 86th Ave N, Suite B
City State/Province/Country ZIP/Postal Code
Maple Grove MINNESOTA 55369
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
MINNESOTA
Recipient
Recipient CRD Number    None
James C. Ciocia 1619245
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
National Securities Corporation 7569
Street Address 1 Street Address 2
14802 North Dale Mabry Hwy, Suite 101
City State/Province/Country ZIP/Postal Code
Tampa FLORIDA 33618
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
PENNSYLVANIA
Recipient
Recipient CRD Number    None
Dennis P. Clark 1727564
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Royal Alliance Assoicates, Inc. 23131
Street Address 1 Street Address 2
1009 West Beech Street
City State/Province/Country ZIP/Postal Code
Long Beach NEW YORK 11561
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
NEW YORK
Recipient
Recipient CRD Number    None
Frank G. Giangrande 1032105
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Royal Alliance Associates, Inc. 23131
Street Address 1 Street Address 2
1009 West Beech Street
City State/Province/Country ZIP/Postal Code
Long Beach NEW YORK 11561
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
NEW YORK
Recipient
Recipient CRD Number    None
David A. Mohheit 4586091
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
12455 W. Bell Road
City State/Province/Country ZIP/Postal Code
Surprise ARIZONA 85378
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
ARIZONA
Recipient
Recipient CRD Number    None
Jeffrey B. Baker 2102752
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Vanderbilt Securites, LLC 5953
Street Address 1 Street Address 2
12 E. Water Street
City State/Province/Country ZIP/Postal Code
Newburgh INDIANA 47629
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
INDIANA
MISSOURI
Recipient
Recipient CRD Number    None
Leon H. Levinson 1251194
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Lincoln Financial Services Corporation 3870
Street Address 1 Street Address 2
4848 Loop Central Drive, Suite 1005
City State/Province/Country ZIP/Postal Code
Houston TEXAS 77081
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
ILLINOIS
Recipient
Recipient CRD Number    None
David W. Young III 2423111
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Commonwealth Financial Network 8032
Street Address 1 Street Address 2
12500 Fair Lakes Circle, Suite 250
City State/Province/Country ZIP/Postal Code
Fairfax VIRGINIA 22033
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
VIRGINIA
Recipient
Recipient CRD Number    None
Michael A. Torchia Jr. 4434574
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
4071 Route 9, Stop 1
City State/Province/Country ZIP/Postal Code
Hudson NEW YORK 12534
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
NEW YORK
Recipient
Recipient CRD Number    None
Paul M. Largo 2860474
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Royal Alliance Associates, Inc. 23131
Street Address 1 Street Address 2
295 Route 34, Suite 301
City State/Province/Country ZIP/Postal Code
Colts Neck NEW JERSEY 07722
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
NEW JERSEY
Recipient
Recipient CRD Number    None
Johnathan R. Creighton 1495897
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Concorde Investment Services, LLC 151604
Street Address 1 Street Address 2
350 Lincoln Street, Suite 2400
City State/Province/Country ZIP/Postal Code
Hingham MASSACHUSETTS 02043
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
MASSACHUSETTS
Recipient
Recipient CRD Number    None
Kirk D. Dobson 4049865
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Ameritas Investment Corp. 14869
Street Address 1 Street Address 2
3150 Crow Canyon Plance, #200
City State/Province/Country ZIP/Postal Code
San Ramon CALIFORNIA 94583
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
Recipient
Recipient CRD Number    None
David B. Levinson 705929
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Newport Coast Securties, Inc. 16944
Street Address 1 Street Address 2
18872 Macarthur Blvd., Suite 100
City State/Province/Country ZIP/Postal Code
Irvine CALIFORNIA 92612
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
Recipient
Recipient CRD Number    None
John C. Chanoski 1796030
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
205 East Jopa Road, Suite 108
City State/Province/Country ZIP/Postal Code
Towson MARYLAND 21286
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
FLORIDA
Recipient
Recipient CRD Number    None
Roberto J. Duran 4120580
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Lincoln Financial Securities Corporation 3978
Street Address 1 Street Address 2
18400 Von Karman Avenue, Suite 550
City State/Province/Country ZIP/Postal Code
Irvine CALIFORNIA 92612
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
ARIZONA
Recipient
Recipient CRD Number    None
John T. Christy 4573758
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Royal Alliance Associates, Inc. 23131
Street Address 1 Street Address 2
5950 North Oak Trafficway, Suite 201
City State/Province/Country ZIP/Postal Code
Kansas City MISSOURI 64118
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
MISSOURI
Recipient
Recipient CRD Number    None
Jack W. Ellison 2584997
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Independent Financial Group, LLC 7717
Street Address 1 Street Address 2
490 S. Farrell Drive, STE C201
City State/Province/Country ZIP/Postal Code
Palm Springs CALIFORNIA 92262
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
Recipient
Recipient CRD Number    None
Gary E. Barth 2466996
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Amertias Investment Corp, 14869
Street Address 1 Street Address 2
2202 Central Ave STE 8
City State/Province/Country ZIP/Postal Code
Kearney NEBRASKA 68847
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
NEBRASKA
Recipient
Recipient CRD Number    None
Matthew Schanz 6382829
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
The Strategic Alliance, Inc. 126514
Street Address 1 Street Address 2
2301 Stonehenge Drive, 210
City State/Province/Country ZIP/Postal Code
Raleigh NORTH CAROLINA 27615
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
NORTH CAROLINA
Recipient
Recipient CRD Number    None
Timothy J. Warren 4093611
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
333 N. Lantana St, Suite 118
City State/Province/Country ZIP/Postal Code
Camarillo CALIFORNIA 93010
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
Recipient
Recipient CRD Number    None
David A. Schlein 4334470
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
369 Franklin Street, Cyclorama Building
City State/Province/Country ZIP/Postal Code
Buffalo NEW YORK 14202
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
NEW YORK
Recipient
Recipient CRD Number    None
William G. Stemple 1764020
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Lincoln Financial Advisors Corporation 3978
Street Address 1 Street Address 2
4250 Executive Square, Suite 1700
City State/Province/Country ZIP/Postal Code
La Jolla CALIFORNIA 92037
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
COLORADO
Recipient
Recipient CRD Number    None
Ryan G. Malfitano 5557067
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Amertias Investment Corp. 14869
Street Address 1 Street Address 2
1877 South Federal Highway, Suite 210
City State/Province/Country ZIP/Postal Code
Boca Raton FLORIDA 33432
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
FLORIDA
Recipient
Recipient CRD Number    None
Jason T. Ice 4489143
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
25201 chagrin Blvd., Suite 200
City State/Province/Country ZIP/Postal Code
Beachwood OHIO 44122
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
FLORIDA
Recipient
Recipient CRD Number    None
Hagop (Jacob) S. Tujian 4605467
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Independent Financial Grou, LLC 7717
Street Address 1 Street Address 2
825 Colorado Blvd. Suite 201
City State/Province/Country ZIP/Postal Code
Los Angeles CALIFORNIA 90041
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
Recipient
Recipient CRD Number    None
Donald E. Garcia 1782485
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Lincoln Financial Advisors Corporation 3978
Street Address 1 Street Address 2
18400 Von Karman Avenue, Suite 400
City State/Province/Country ZIP/Postal Code
Irvine CALIFORNIA 92612-5011
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
MISSOURI
Recipient
Recipient CRD Number    None
Darryl A. Bodnar 4565799
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
Yorkridge Center North, 10626 York Road, Suite H
City State/Province/Country ZIP/Postal Code
Hunt Valley MARYLAND 21030
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
MARYLAND
Recipient
Recipient CRD Number    None
Jennifer A. Wildman 4973672
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
915 N. Jefferson Avenue
City State/Province/Country ZIP/Postal Code
Mt. Pleasant TEXAS 75455-3259
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
TEXAS
Recipient
Recipient CRD Number    None
Robert R. Tweed 2339324
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Cabot Lodge Securites 159712
Street Address 1 Street Address 2
2060 Huntington Drive, Suite 1
City State/Province/Country ZIP/Postal Code
San Marino CALIFORNIA 91108
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
Recipient
Recipient CRD Number    None
Carol S. Grasso 1635604
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Moloney Sercurites Co., Inc. 38535
Street Address 1 Street Address 2
501 St. Vrain Lane, Suite 100
City State/Province/Country ZIP/Postal Code
Estes Park COLORADO 80517
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
COLORADO
Recipient
Recipient CRD Number    None
David C. Grossling 2545451
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Lincoln Financial Advisors Corporation 3978
Street Address 1 Street Address 2
4900 N Scottsdale Road, Suite 3700
City State/Province/Country ZIP/Postal Code
Scottsdale ARIZONA 85251
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
ARIZONA
Recipient
Recipient CRD Number    None
Tony R. Price 2695786
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Royal Alliance Associates, Inc. 23131
Street Address 1 Street Address 2
750 Old Hickory Blvd, One Brentwood Commons Suite 170
City State/Province/Country ZIP/Postal Code
Brentwood TENNESSEE 37027
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
TENNESSEE
Recipient
Recipient CRD Number    None
Raymond A. Ferro Jr. 1927831
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Woodbury Financial Services, Inc. 421
Street Address 1 Street Address 2
100 Mill Plain Rd.
City State/Province/Country ZIP/Postal Code
Danbury CONNECTICUT 06811
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CONNECTICUT
Recipient
Recipient CRD Number    None
Anthony J. Cardinal 1686561
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Commonwealth Financial Network 8032
Street Address 1 Street Address 2
4565 East Galbraith Road, Suite B
City State/Province/Country ZIP/Postal Code
Cincinnati OHIO 45236
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
ILLINOIS
Recipient
Recipient CRD Number    None
Joseph J. Lutz 2529263
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Sagepoint Financial, Inc. 133763
Street Address 1 Street Address 2
7777 Alvarado Rd., #600
City State/Province/Country ZIP/Postal Code
LA Mesa CALIFORNIA 91942
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
Recipient
Recipient CRD Number    None
Michael D. Prince 5677970
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Independent Financial Group, LLC 7717
Street Address 1 Street Address 2
5075 Shoreham Place, Ste 200
City State/Province/Country ZIP/Postal Code
San Diego CALIFORNIA 92122
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
Recipient
Recipient CRD Number    None
Bryan C. Hakola 4161289
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Concorde Investments Services, LLC 151604
Street Address 1 Street Address 2
32565 B Golden Lantern, #245
City State/Province/Country ZIP/Postal Code
Dana Point CALIFORNIA 92629
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
Recipient
Recipient CRD Number    None
Robin L. Krolewski 6104465
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Sigma Financial Corporation 14303
Street Address 1 Street Address 2
42627 Garfield Road, Ste 216B
City State/Province/Country ZIP/Postal Code
Clinton Twp. MICHIGAN 48038
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
MICHIGAN
Recipient
Recipient CRD Number    None
Kristine S. Somerville 868386
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
infinex Investments, Inc. 35371
Street Address 1 Street Address 2
15128 Heathridge Drive
City State/Province/Country ZIP/Postal Code
Tampa FLORIDA 33625
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
FLORIDA
Recipient
Recipient CRD Number    None
John W. Kenny 268043
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
American Investors Company 38
Street Address 1 Street Address 2
24121 Wine Country Court
City State/Province/Country ZIP/Postal Code
Sonoma CALIFORNIA 95476
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
Recipient
Recipient CRD Number    None
Molly M. Grubb 5647291
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Cambridge Investment Research, Inc. 39543
Street Address 1 Street Address 2
454 E. Main St., Suite 215
City State/Province/Country ZIP/Postal Code
Columbus OHIO 43215
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
OHIO
Recipient
Recipient CRD Number    None
Elliot V. Hill 5778698
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
McDermott Investments Services, LLC 154926
Street Address 1 Street Address 2
Liberty Plaza, 890 Portland Road Suite 3
City State/Province/Country ZIP/Postal Code
Saco MAINE 04072
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
NEW HAMPSHIRE

13. Offering and Sales Amounts

Total Offering Amount $89,357,629 USD
or    Indefinite
Total Amount Sold $60,072,580 USD
Total Remaining to be Sold $29,285,049 USD
or    Indefinite

Clarification of Response (if Necessary):

14. Investors

  
 Select if securities in the offering have been or may be sold to persons who do not qualify as accredited investors, and enter the number of such non-accredited investors who already have invested in the offering.
Regardless of whether securities in the offering have been or may be sold to persons who do not qualify as accredited investors, enter the total number of investors who already have invested in the offering:
97

15. Sales Commissions & Finder's Fees Expenses

Provide separately the amounts of sales commissions and finders fees expenses, if any. If the amount of an expenditure is not known, provide an estimate and check the box next to the amount.

Sales Commissions $4,467,881 USD
X Estimate
Finders' Fees $0 USD
   Estimate

Clarification of Response (if Necessary):

This response is based on the assumption that the full amount of the potential sales commissions will be earned and paid.

16. Use of Proceeds

Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above. If the amount is unknown, provide an estimate and check the box next to the amount.

$5,721,978 USD
X Estimate

Clarification of Response (if Necessary):

Signature and Submission

Please verify the information you have entered and review the Terms of Submission below before signing and clicking SUBMIT below to file this notice.

Terms of Submission

In submitting this notice, each issuer named above is:
  • Notifying the SEC and/or each State in which this notice is filed of the offering of securities described and undertaking to furnish them, upon written request, in the accordance with applicable law, the information furnished to offerees.*
  • Irrevocably appointing each of the Secretary of the SEC and, the Securities Administrator or other legally designated officer of the State in which the issuer maintains its principal place of business and any State in which this notice is filed, as its agents for service of process, and agreeing that these persons may accept service on its behalf, of any notice, process or pleading, and further agreeing that such service may be made by registered or certified mail, in any Federal or state action, administrative proceeding, or arbitration brought against it in any place subject to the jurisdiction of the United States, if the action, proceeding or arbitration (a) arises out of any activity in connection with the offering of securities that is the subject of this notice, and (b) is founded, directly or indirectly, upon the provisions of:  (i) the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940, or the Investment Advisers Act of 1940, or any rule or regulation under any of these statutes, or (ii) the laws of the State in which the issuer maintains its principal place of business or any State in which this notice is filed.
  • Certifying that, if the issuer is claiming a Regulation D exemption for the offering, the issuer is not disqualified from relying on Regulation D for one of the reasons stated in Rule 505(b)(2)(iii) or Rule 506(d).

Each Issuer identified above has read this notice, knows the contents to be true, and has duly caused this notice to be signed on its behalf by the undersigned duly authorized person.

For signature, type in the signer's name or other letters or characters adopted or authorized as the signer's signature.

Issuer Signature Name of Signer Title Date
National Net Lease Portfolio VII DST /s/ Keith Lampi Keith Lampi President of the Member of the Signatory Trustee 2016-06-21

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

* This undertaking does not affect any limits Section 102(a) of the National Securities Markets Improvement Act of 1996 ("NSMIA") [Pub. L. No. 104-290, 110 Stat. 3416 (Oct. 11, 1996)] imposes on the ability of States to require information. As a result, if the securities that are the subject of this Form D are "covered securities" for purposes of NSMIA, whether in all instances or due to the nature of the offering that is the subject of this Form D, States cannot routinely require offering materials under this undertaking or otherwise and can require offering materials only to the extent NSMIA permits them to do so under NSMIA's preservation of their anti-fraud authority.