0001926970-23-000001.txt : 20230523 0001926970-23-000001.hdr.sgml : 20230523 20230523163035 ACCESSION NUMBER: 0001926970-23-000001 CONFORMED SUBMISSION TYPE: D/A PUBLIC DOCUMENT COUNT: 1 ITEM INFORMATION: 06b FILED AS OF DATE: 20230523 DATE AS OF CHANGE: 20230523 EFFECTIVENESS DATE: 20230523 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PREP Net Lease Income Fund III, Inc. CENTRAL INDEX KEY: 0001926970 IRS NUMBER: 881707620 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: D/A SEC ACT: 1933 Act SEC FILE NUMBER: 021-447064 FILM NUMBER: 23949294 BUSINESS ADDRESS: STREET 1: 2750 RASMUSSEN ROAD STREET 2: SUITE 202 CITY: PARK CITY STATE: UT ZIP: 84098 BUSINESS PHONE: 8336967737 MAIL ADDRESS: STREET 1: 2750 RASMUSSEN ROAD STREET 2: SUITE 202 CITY: PARK CITY STATE: UT ZIP: 84098 D/A 1 primary_doc.xml X0708 D/A LIVE 0001926970 PREP Net Lease Income Fund III, Inc. 2750 RASMUSSEN ROAD SUITE 202 PARK CITY UT UTAH 84098 8336967737 MARYLAND None None Corporation true 2022 Michael C. Phillips 2750 Rasmussen Road Suite 202 Park City UT UTAH 84098 Executive Officer Director Promoter Chief Executive Officer (of the Sponsor and the Issuer), Chairman of the Board, President, Director Sara J. Brennan 2750 Rasmussen Road Suite 202 Park City UT UTAH 84098 Executive Officer Director Chief Operating Officer (of the Sponsor and the Issuer), President of the Sponsor, Treasurer, Secretary, Director PREP Property Group LLC 2750 Ramussen Road Suite 202 Park City UT UTAH 84098 Executive Officer Promoter Sponsor of the Issuer and owner of the Advisor PREP NLI Advisor LLC 2750 Ramussen Road Suite 202 Park City UT UTAH 84098 Executive Officer Advisor to the Issuer Gregory L. Clark 2750 Ramussen Road Suite 202 Park City UT UTAH 84098 Director Independent Director Other Real Estate Decline to Disclose 06b true 0001926970-22-000001 2022-06-10 true true true Common stock false 50000 PREP Securities, LLC 188522 None None 2750 Rasmussen Road Suite 202 Park City UT UTAH 84098 All States false American Portfolios Financial Services, Inc. 18487 None None 4250 Veterans Memorial Highway 4th Floor East Holbrook NY NEW YORK 11741 All States false American Trust Investment Services, Inc. 3001 None None 1244 119th Street Whiting IN INDIANA 46394-1003 All States false Arkadios Capital 282710 None None 309 East Paces Ferry Road Suite 1000 Atlanta GA GEORGIA 30305 All States false Ausdal Financial Partners, Inc. 7995 None None 5187 Utica Ridge Rd Davenport IA IOWA 52807 All States false Berthel Fisher & Company Financial Services, Inc. 13609 None None 4201 42nd Street NE Suite 100 Cedar Rapids IA IOWA 52402 All States false Calton & Associates, Inc. 20999 None None 2701 N Rocky Point Drive Suite 1000 Tampa FL FLORIDA 33607 All States false Centaurus Financial, Inc. 30833 None None 2300 E Katella Avenue Suite 200 Anaheim CA CALIFORNIA 92806 All States false DFPG Investments, LLC 155576 None None 9017 S Riverside Drive Suite 210 Sandy UT UTAH 84070 All States false IBN Financial Services, Inc. 42360 None None 404 Old Liverpool Rd Liverpool NY NEW YORK 13088 DE DELAWARE HI HAWAII TX TEXAS FL FLORIDA NV NEVADA WA WASHINGTON NY NEW YORK SC SOUTH CAROLINA SD SOUTH DAKOTA WI WISCONSIN MA MASSACHUSETTS MD MARYLAND IA IOWA ME MAINE OH OHIO GA GEORGIA ID IDAHO MI MICHIGAN OK OKLAHOMA CA CALIFORNIA UT UTAH MN MINNESOTA MO MISSOURI IL ILLINOIS OR OREGON IN INDIANA MS MISSISSIPPI KS KANSAS AL ALABAMA VA VIRGINIA CO COLORADO KY KENTUCKY AR ARKANSAS CT CONNECTICUT PA PENNSYLVANIA LA LOUISIANA NC NORTH CAROLINA NE NEBRASKA RI RHODE ISLAND AZ ARIZONA NH NEW HAMPSHIRE NJ NEW JERSEY VT VERMONT DC DISTRICT OF COLUMBIA NM NEW MEXICO false The Strategic Financial Alliance, Inc. 126514 None None 2200 Century Parkway Suite 500 Atlanta GA GEORGIA 30345 All States false Westpark Capital, Inc. 39914 None None 1800 Century Park East Suite 220 Los Angeles CA CALIFORNIA 90067 All States false Coastal Equities, Inc. 23769 None None 1201 N Orange Street STE 729 Wilmington DE DELAWARE 19801 All States false 200000000 18651096 181348904 false 185 11432500 true 0 Selling commissions of $8,070,000 + Dealer-Manager fees of $3,362,500 are estimated from potential sales of the maximum offering amount 7276938 true The Advisor is entitled to organization and offering expenses of $2,000,000 + Acquisition fee of $2,798,513 + Acquisition expenses of $2,478,425 estimated from total proceeds of the max offering amount false PREP Net Lease Income Fund III, Inc. Sara J. Brennan Sara J. Brennan Chief Operating Officer 2023-05-23