Form D · Commercial
IREX III Industrial Portfolio DST
Dallas, TX · CIK 0002074553
Offering snapshot reported Dec 10, 2025 · SEC filing
- Reported sold
- $82.8M Offering amount: $87M
- Investors reported
- 109 Form D · investor count
- Minimum accepted
- $250K Reported outside-investor minimum
- First sale
- Jul 1, 2025 As reported in this filing
Fundraising history
Reported soldDates 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$75,158,458 → $82,816,816
- Reported investors99 → 109
Filing history
Scroll to see all columns →
| Filed | Filing type | Reported sold | Change vs linked filing | Investors | Source |
|---|---|---|---|---|---|
| Dec 10, 2025 | Amendment | $82,816,816 | $7,658,358vs Oct 14, 2025 | 109 | SEC filing |
| Oct 14, 2025 | Amendment | $75,158,458 | $22,662,321vs Oct 3, 2025 | 99 | SEC filing |
| Oct 3, 2025 | Amendment | $52,496,137 | $12,829,451vs Sep 19, 2025 | 74 | SEC filing |
| Sep 19, 2025 | Amendment | $39,666,686 | $10,368,718vs Sep 4, 2025 | 82 | SEC filing |
| Sep 4, 2025 | Amendment | $29,297,968 | No comparison | 44 | SEC filing |
| Aug 11, 2025 | Amendment | $20,880,872 | No comparison | 26 | SEC filing |
| Jul 31, 2025 | Amendment | $9,179,784 | $8,651,622vs Jul 15, 2025 | 16 | SEC filing |
| Jul 15, 2025 | Initial | $528,162 | No comparison | 2 | SEC filing |
Offering details
- Securities
- Equity
- Exemptions
- 06b
- Duration over one year
- No
- Business combination
- No
- Sales commissions
- $5.22M (estimated)
- Finders' fees
- $0 (estimated)
- Form D file number
- 021-551870
Regarding Item 11, the Issuer may accept smaller investments in the Issuer's sole discretion.
Sales Commissions include estimates of the maximum amount of Selling Commissions, Dealer Fees and Placement Fees that may be paid.
Sales compensation recipients
Scroll to see all columns →
| Recipient | CRD | Associated broker-dealer |
|---|---|---|
| Beth Veloz | 6221867 | Lightpath Capital, Inc. · CRD 34617 |
| Morgan Stanley | 149777 | |
| Roger Bowlin | 1905652 | Aurora Securities · CRD 46147 |
| Concorde Investment Services, LLC | 151604 | |
| Brianna Gieselman | 7570195 | Realized Financial, Inc. · CRD 22333 |
Source: Form D, filed Dec 10, 2025. 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.
| Name | Reported role |
|---|---|
| Bert Crouch | Executive |
| Stephanie Holder | Executive |
| N/A Invesco Dst Manager Llc | Executive |
| N/A Invesco Real Estate Exchange Llc | Executive |
| N/A Irex Depositor Llc | Executive |
Issuer details
Industry: Commercial (See others in industry)
Address:
2300 N. Field Street Suite 1200
Dallas, TX, 75201
Dallas, TX, 75201