FORM D
Notice of Exempt Offering of Securities

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

OMB APPROVAL
OMB Number: 3235-0076
Estimated Average burden hours per response: 4.0
1. Issuer's Identity
CIK (Filer ID Number)Previous Name(s)Checkbox checkedNoneEntity Type
0002076568
Radio button not checkedCorporation
Radio button not checked Limited Partnership
Radio button not checked Limited Liability Company
Radio button not checked General Partnership
Radio button not checked Business Trust
Radio button checkedOther
Statutory Trust
 
Name of Issuer
 Inland ALT Senior Living DST
Jurisdiction of Incorporation/Organization
DELAWARE 
Year of Incorporation/Organization
Radio button not checkedOver Five Years Ago
Radio button checkedWithin Last Five Years (Specify Year)
2024
Radio button not checkedYet to Be Formed
 
  
  
 
2. Principal Place of Business and Contact Information
Name of Issuer
 Inland ALT Senior Living DST
Street Address 1Street Address 2
 2901 BUTTERFIELD ROAD
 
CityState/Province/CountryZIP/Postal CodePhone No. of Issuer
 OAK BROOK
 ILLINOIS
 
 60523
 866-694-6526 




1. Issuer's Identity
CIK (Filer ID Number)Previous Name(s)Checkbox checkedNoneEntity Type
0002018568
Radio button not checkedCorporation
Radio button checked Limited Partnership
Radio button not checked Limited Liability Company
Radio button not checked General Partnership
Radio button not checked Business Trust
Radio button not checkedOther 
Name of Issuer
IPC Alternative Real Estate Operating Partnership, LP
Jurisdiction of Incorporation/Organization
DELAWARE
Year of Incorporation/Organization
Radio button not checkedOver Five Years Ago
Radio button checkedWithin Last Five Years (Specify Year)
2021 
Radio button not checkedYet to Be Formed
  
  
 
2. Principal Place of Business and Contact Information
Name of Issuer
IPC Alternative Real Estate Operating Partnership, LP
Street Address 1Street Address 2
 2901 BUTTERFIELD ROAD
 
CityState/Province/CountryZIP/Postal CodePhone No. of Issuer
OAK BROOK
ILLINOIS
60523
6302188000


3. Related Persons

Last NameFirst NameMiddle Name
Inland Private Capital Corporation
N/A
Street Address 1Street Address 2
 2901 Butterfield Road 
 
CityState/Province/CountryZIP/Postal Code
 Oak Brook
 ILLINOIS
 60523
 
Relationship:Checkbox checkedExecutive OfficerCheckbox not checkedDirectorCheckbox not checkedPromoter
Clarification of Response (if Necessary)
Sponsor of the Issuer


Last NameFirst NameMiddle Name
Ann Arbor MI Senior Living, L.L.C.
N/A
Street Address 1Street Address 2
 2901 Butterfield Road 
 
CityState/Province/CountryZIP/Postal Code
 Oak Brook
 ILLINOIS
 60523
 
Relationship:Checkbox checkedExecutive OfficerCheckbox not checkedDirectorCheckbox not checkedPromoter
Clarification of Response (if Necessary)
Depositor of the Issuer


Last NameFirst NameMiddle Name
Ann Arbor MI Senior Living Exchange, L.L.C.
N/A
Street Address 1Street Address 2
 2901 Butterfield Road 
 
CityState/Province/CountryZIP/Postal Code
 Oak Brook
 ILLINOIS
 60523
 
Relationship:Checkbox checkedExecutive OfficerCheckbox not checkedDirectorCheckbox not checkedPromoter
Clarification of Response (if Necessary)
Signatory Trustee of Issuer


Last NameFirst NameMiddle Name
Fries
Matthew
Street Address 1Street Address 2
 2901 Butterfield Road 
 
CityState/Province/CountryZIP/Postal Code
 Oak Brook
 ILLINOIS
 60523
 
Relationship:Checkbox checkedExecutive OfficerCheckbox not checkedDirectorCheckbox not checkedPromoter
Clarification of Response (if Necessary)
Chief Executive and President of the Sponsor




4. Industry Group
 Radio button not checkedAgriculture
Banking & Financial Services
 Radio button not checked Commercial Banking
 Radio button not checked Insurance
 Radio button not checkedInvesting
 Radio button not checked Investment Banking
 Radio button not checked Pooled Investment Fund

 Radio button not checkedOther Banking & Financial Services
Radio button not checked Business Services
Energy
 Radio button not checked Coal Mining
 Radio button not checked Electric Utilities
 Radio button not checked Energy Conservation
 Radio button not checked Environmental Services
 Radio button not checked Oil & Gas
 Radio button not checked Other Energy
Health Care
 Radio button not checked Biotechnology
 Radio button not checked Health Insurance
 Radio button not checked Hospitals & Physicians
 Radio button not checked Pharmaceuticals
 Radio button not checked Other Health Care
   
   
   
  
Radio button not checked Manufacturing
Real Estate
 Radio button not checkedCommercial
 Radio button not checkedConstruction
 Radio button not checkedREITS & Finance
 Radio button not checkedResidential
Radio button checkedOther Real Estate
Radio button not checked Retailing
Radio button not checkedRestaurants
Technology
Radio button not checked Computers
Radio button not checked Telecommunications
Radio button not checked Other Technology
Travel
Radio button not checked Airlines & Airports
Radio button not checked Lodging & Conventions
Radio button not checked Tourism & Travel Services
Radio button not checked Other Travel
Radio button not checkedOther

  
   
5. Issuer Size
Revenue RangeAggregate Net Asset Value Range
Radio button not checkedNo RevenuesRadio button not checked No Aggregate Net Asset Value
Radio button not checked $1 - $1,000,000Radio button not checked$1 - $5,000,000
Radio button not checked $1,000,001 - $5,000,000Radio button not checked $5,000,001 - $25,000,000
Radio button not checked$5,000,001 - $25,000,000Radio button not checked $25,000,001 - $50,000,000
Radio button not checked$25,000,001 - $100,000,000Radio button not checked $50,000,001 - $100,000,000
Radio button not checked Over $100,000,000Radio button not checked Over $100,000,000
Radio button checked Decline to Disclose Radio button not checkedDecline to Disclose
Radio button not checked Not ApplicableRadio button not checked Not Applicable

 
6. Federal Exemption(s) and Exclusion(s) Claimed (select all that apply)
Checkbox not checkedRule 504(b)(1) (not (i), (ii)
or (iii))		Checkbox checkedRule 506(b)      
Checkbox not checkedRule 504 (b)(1)(i) Checkbox not checkedRule 506(c)
Checkbox not checkedRule 504 (b)(1)(ii) Checkbox not checkedSecurities Act Section 4(a)(5)
Checkbox not checkedRule 504 (b)(1)(iii)Checkbox not checkedInvestment Company Act Section 3(c)
 
 

7. Type of Filing
Checkbox not checked New Notice Date of First Sale 
2025-07-14
Checkbox not checked First Sale Yet to Occur
Checkbox checked Amendment


 
 
8. Duration of Offering
Does the Issuer intend this offering to last more than one year? Radio button not checked Yes Radio button checked No
 
 
9. Type(s) of Securities Offered (select all that apply)
Checkbox not checkedPooled Investment Fund InterestsCheckbox checkedEquity
Checkbox not checkedTenant-in-Common Securities Checkbox not checkedDebt
Checkbox not checkedMineral Property SecuritiesCheckbox not checkedOption, Warrant or Other Right to Acquire Another Security
Checkbox not checkedSecurity to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire SecurityCheckbox not checkedOther (describe)
 
 
 
10. Business Combination Transaction
Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer? Radio button not checked Yes Radio button checked No
Clarification of Response (if Necessary)
 
 
 
11. Minimum Investment
Minimum investment accepted from any outside investor$
 250000
USD

12. Sales Compensation
Recipient Recipient CRD NumberCheckbox not checkedNone
 Inland Securities Corporation
 15807
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
2901 Butterfield Road
 
City State/Province/CountryZIP/Postal Code
 Oak Brook
 ILLINOIS
 60523
State(s) of SolicitationCheckbox checkedAll StatesCheckbox not checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 Emerson Equity LLC
 130032
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
155 Bovet Road
Suite 725
City State/Province/CountryZIP/Postal Code
 San Mateo
 CALIFORNIA
 94402
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
CALIFORNIA
GEORGIA
Recipient Recipient CRD NumberCheckbox not checkedNone
 Arkadios Capital
 282710
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
2827 Peachtree Road NE
Suite 510
City State/Province/CountryZIP/Postal Code
 Atlanta
 GEORGIA
 30305
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
FLORIDA
UTAH
Recipient Recipient CRD NumberCheckbox not checkedNone
 Alexander Capital, L.P.
 40077
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
10 Drs James Parker Blvd.
Suite 202
City State/Province/CountryZIP/Postal Code
 Red Bank
 NEW JERSEY
 07701
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
CALIFORNIA
Recipient Recipient CRD NumberCheckbox not checkedNone
 Osaic Wealth, Inc.
 23131
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
18700 N. Hayden Road
Suite 255
City State/Province/CountryZIP/Postal Code
 Scottsdale
 ARIZONA
 85255
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
ALABAMA
ARKANSAS
CALIFORNIA
HAWAII
INDIANA
IOWA
MAINE
MICHIGAN
MINNESOTA
NEBRASKA
NEVADA
NEW YORK
NORTH CAROLINA
OHIO
OREGON
PENNSYLVANIA
TEXAS
Recipient Recipient CRD NumberCheckbox not checkedNone
 Cambridge Investment Research, Inc.
 39543
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
1776 Pleasant Plain Road
 
City State/Province/CountryZIP/Postal Code
 Fairfield
 IOWA
 52556
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
CALIFORNIA
GEORGIA
MISSOURI
NEW HAMPSHIRE
NEW YORK
PENNSYLVANIA
TENNESSEE
Recipient Recipient CRD NumberCheckbox not checkedNone
 Realta Equities, Inc.
 23769
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
1201 N. Orange Street
Suite 729
City State/Province/CountryZIP/Postal Code
 Wilmington
 DELAWARE
 19801
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
CALIFORNIA
Recipient Recipient CRD NumberCheckbox not checkedNone
 Nationwide Planning Associates, Inc.
 31029
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
32-16 Broadway Avenue
2nd Floor
City State/Province/CountryZIP/Postal Code
 Fair Lawn
 NEW JERSEY
 07410
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
NEW YORK
Recipient Recipient CRD NumberCheckbox not checkedNone
 Realized Financial, Inc.
 22333
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
500 W. 13th Street
 
City State/Province/CountryZIP/Postal Code
 Austin
 TEXAS
 78701
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
NEW YORK
Recipient Recipient CRD NumberCheckbox not checkedNone
 Concorde Investment Services, LLC
 151604
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
3909 Research Park Drive
Suite 200
City State/Province/CountryZIP/Postal Code
 Ann Arbor
 MICHIGAN
 48108
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
CALIFORNIA
FLORIDA
LOUISIANA
NEW JERSEY
NEW YORK
Recipient Recipient CRD NumberCheckbox not checkedNone
 World Equity Group, Inc.
 29087
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
425 N. Martingale Road
Suite 1220
City State/Province/CountryZIP/Postal Code
 Schaumburg
 ILLINOIS
 60173
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
TEXAS
Recipient Recipient CRD NumberCheckbox not checkedNone
 Osaic Institutions, Inc.
 35371
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
538 Preston Avenue
 
City State/Province/CountryZIP/Postal Code
 Meriden
 CONNECTICUT
 06450
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
FLORIDA
NORTH CAROLINA
Recipient Recipient CRD NumberCheckbox not checkedNone
 Spire Securities, LLC
 144131
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
7901 Jones Branch Drive
Suite 810
City State/Province/CountryZIP/Postal Code
 McLean
 VIRGINIA
 22102
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
VIRGINIA
Recipient Recipient CRD NumberCheckbox not checkedNone
 Prospera Financial Services, Inc.
 10740
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
5429 LBJ Freeway
Suite 750
City State/Province/CountryZIP/Postal Code
 Dallas
 TEXAS
 75240
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
LOUISIANA



13. Offering and Sales Amounts
 
Total Offering Amount $
77266799
USDCheckbox not checkedIndefinite
Total Amount Sold $
77266799
USD
Total Remaining to be Sold $
0
USDCheckbox not checkedIndefinite
Clarification of Response (if Necessary)
  
 
14. Investors

Checkbox not checkedSelect if securities in the offering have been or may be sold to persons who do not qualify as accredited investors,
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:
114
 
15. Sales Commissions & Finders’ 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$
3863340
USDCheckbox checkedEstimate
Finders' Fees$
0
USDCheckbox checkedEstimate
Clarification of Response (if Necessary)
 
 

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.
 $ 
3504697
USDCheckbox checkedEstimate
Clarification of Response (if Necessary)
Estimate of certain fees, including Dealer Fee, Placement Agent Fee, O&O Expenses and costs related to acquisition that may accrue to one or more related persons.

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, 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 Rule 504 or Rule 506 for one of the reasons stated in Rule 504(b)(3) 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.
Checkbox not checkedI also am a duly authorized representative of the other identified issuer(s) in Item 1 above and authorized to sign on their behalf.
 
IssuerSignatureName of SignerTitleDate
Inland ALT Senior Living DSTKristin OrlandoKristin OrlandoCorporate Secretary of the Sponsor of the Issuer2026-03-12
IPC Alternative Real Estate Operating Partnership, LPKristin OrlandoKristin OrlandoCorporate Secretary2026-03-12