Form D · Other Real Estate

AX Essential Retail Portfolio, DST

New York, NY · CIK 0002100640

Offering snapshot reported Sep 28, 2026 · SEC filing

Reported sold: $91.5M
Investors reported: 118
Minimum accepted: $25K
First sale: Nov 25, 2025

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

Reported sold$89,380,983 → $91,520,000
Reported investors113 → 118

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Sep 28, 2026	Amendment	$91,520,000	$2,139,017vs Aug 14, 2026	118	SEC filing
Aug 14, 2026	Amendment	$89,380,983	$11,803,086vs Jul 9, 2026	113	SEC filing
Jul 9, 2026	Amendment	$77,577,897	$8,262,802vs Jun 11, 2026	103	SEC filing
Jun 11, 2026	Amendment	$69,315,095	$2,045,231vs May 21, 2026	89	SEC filing
May 21, 2026	Amendment	$67,269,864	$9,830,596vs Apr 30, 2026	82	SEC filing
Apr 30, 2026	Amendment	$57,439,268	$8,979,039vs Apr 13, 2026	68	SEC filing
Apr 13, 2026	Amendment	$48,460,229	$3,683,799vs Mar 25, 2026	52	SEC filing
Mar 25, 2026	Amendment	$44,776,430	$5,423,841vs Mar 4, 2026	42	SEC filing
Mar 4, 2026	Amendment	$39,352,589	$11,431,357vs Feb 17, 2026	31	SEC filing
Feb 17, 2026	Amendment	$27,921,232	$7,627,340vs Jan 21, 2026	26	SEC filing
Jan 21, 2026	Amendment	$20,293,892	No comparison	17	SEC filing
Dec 11, 2025	Initial	$6,731,493	No comparison	2	SEC filing

Offering details

Securities: Equity, Pooled investment fund
Exemptions: 06b, 3C, 3C.5
Duration over one year: No
Business combination: No

Sales commissions: $5.95M (estimated)
Finders' fees: $0 (estimated)
Form D file number: 021-566537

Regarding Item 11, the Issuer may accept smaller investments in the Issuer's sole discretion.

Sales Commission include estimates of the maximum amount of Selling Commissions and Dealer Fees that may be paid.

Sales compensation recipients

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Recipient	CRD	Associated broker-dealer
Realized Financial, Inc.	22333
Concorde Investment Services, LLC	151604
FNEX Capital, LLC	166316
Michael Cody Pugh	5635714	Arvest Wealth Management · CRD 42057
Eric Bicknese	2829451	Nationwide Planning Associates Inc. · CRD 31029
Lorenzo Aufiero	2705500	Nationwide Planning Associates Inc. · CRD 31029
Steve Fortunato	23769	Realta Equities, Inc. · CRD 7956338
Sarah Beth Veloz	6221867	WealthForge Securities, LLC · CRD 152550
Adam Young	6640146	Nationwide Planning Associates Inc. · CRD 31029
William Taylor Deweese	5533217	Arvest Wealth Management · CRD 42057

Source: Form D, filed Sep 28, 2026. Minimum accepted may differ from a standard advertised minimum.

Fund connections

No confirmed ADV fund connection is available for this issuer.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
N/A Apollo Re Exchange, Llc	Executive
N/A Ax Essential Retail Portfolio Manager, Llc	Executive
N/A Ax Iii Depositor, Llc	Executive
Matthew Breitfelder	Executive
Brian Carney	Executive
Whitney Chatterjee	Executive
Heather Glatter	Executive
Benjamin Israel	Executive
Martin B. Kelly	Executive
Scott Kleinman	Executive
William B. Kuesel	Executive
Mandee Lee	Executive
Yael Levy	Executive
Jessica L. Lomm	Executive
Catherine Mullarney	Executive
Nari Na	Executive
Katherine G. Newman	Executive
Stuart A. Rothstein	Executive
Stefanie Sundel	Executive
Shari Vershell	Executive
Johannes Worsoe	Executive
James Zelter	Executive
John Zito	Executive

Issuer details

Industry: Other Real Estate (See others in industry)

Address:

9 West 57 Th Street 42 Nd Floor
New York, NY, 10019