Originally published by AltsWire
InCommercial Capital Corporation has fully subscribed its first retail motor fuel Delaware statutory trust, raising nearly $18.2 million from accredited investors for a Houston-area portfolio of net-leased motor fuel and convenience retail properties.
Launched in July 2025, InCommercial RMF DST holds a portfolio of four gas station and convenience store properties in the Houston metropolitan area, each leased under 20-year absolute net lease agreements to established regional operators. The properties carry the Shell, Valero, Sunoco, and 76 fuel brands, and are supported by a master lease with an InCommercial affiliate. The offering was structured as an all-cash investment with a starting yield of 6%.
The closing drew participation from 16 broker-dealers and registered investment advisers, according to the firm.
“Convenience retail and motor fuel assets are enjoying an incredible renaissance of interest because they are tied to daily consumer activity and essential services, as well as the potential tax advantages associated with the investment,” said Erik Conrad, chief executive officer of InCommercial. “With our scale and operational experience, we believe we are well-positioned to evaluate, manage, and adapt these assets over time as consumer behavior and regulations continue to evolve.”
Dan Mercer Jr., head of capital markets at InCommercial, said advisers have been drawn to the firm’s focused strategy within the convenience and motor fuel sector.
“Advisers are paying close attention to sponsor experience and execution,” Mercer said. “We stay focused on one asset class and believe that specialization matters in this sector.”
InCommercial focuses on necessity-based retail, convenience store, and gas station properties. The firm operates an affiliated convenience store operating company alongside its property and asset management functions, which it says provides operational insight alongside real estate ownership.
The RMF DST was offered as a complement to InCommercial’s annual motor fuel funds, providing a 1031 exchange-eligible option for investors seeking passive ownership and potential tax deferral through net-leased real estate. The program is the firm’s first retail motor fuel DST offering.
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Alternative investments are speculative, involve a high degree of risk, and are intended only for accredited investors. Gas station and convenience‑store real estate carries risks related to fuel price volatility, operator performance, environmental and regulatory requirements, and long‑term shifts in consumer behavior. The Fund’s strategy may use leverage and depends on market conditions, acquisition opportunities, and operator execution, none of which can be assured. There is no guarantee that the investment or tax objectives will be achieved. Securities offered through JCC Capital Markets, LLC, a member of FINRA/SIPC. Dan Mercer, Jr. is a registered representative of JCC Capital Markets, LLC. InCommercial and JCC Capital Markets, LLC are not affiliated.