# Carino’s

Source: https://baker1031.com/data/full-cycle/investments/1b4b295a3b5309fb

Compiled: 2026-11-03. Source workbook: full_cycle_sponsor_summary_reviewed.xlsx; SHA-256: 57b6a4f1684fe8705993e9ddbe73bdadc275be6df22e56a12153298457264a8e. This date describes the compilation, not the currency of every underlying record.

## Data limitations and educational use

This data was collected from sponsor materials and manually entered into a data file for analysis. Transcription, calculation or classification errors may exist. The compilation has not been independently audited or verified for correctness, completeness or currency. Consult the current private placement memorandum (PPM), its supplements and sponsor reports for complete, up-to-date track-record information.

Displayed metrics use the higher endpoint of each reported range, including averages and medians of those values. Selecting higher return or multiple endpoints presents the more favorable source case. These figures do not establish typical or expected performance. Original ranges remain in the underlying data and source materials.

Some source data is dated, estimated or based on valuations rather than cash exits. Sponsors may use different periods, fees, return definitions and calculation methods, making direct comparisons unreliable or impossible. Available histories may be incomplete or selected, and exclusions and missing values affect each metric’s sample. Averages are not pooled investor returns or a ranking of sponsors.

For educational purposes only. This data is not investment, tax or legal advice, a recommendation, or an offer to buy or sell securities. Past performance does not guarantee or predict future results. Real estate securities are speculative and illiquid; distributions are not guaranteed and investors may lose their entire investment.

## Data coverage

<a id="data-coverage"></a>

| Measure | Value |
| --- | --- |
| Investment histories | 837 |
| Sponsors covered (25 with histories) | 39 |
| Annual-return observations | 737 |

<a id="investment-record"></a>

| Investment | Sponsor | Property type | Location | Start | End | Hold years | Annual return | Multiple | IRR | Outcome |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [Carino’s](https://baker1031.com/data/full-cycle/investments/1b4b295a3b5309fb.md) [40](#note-40) | AEI Capital Corporation | Restaurant / net lease | Lakewood, CO | 2001-03-16 | 2015-04-30 | 14.12 | 2.36% | 1.33x | Unavailable | Break-even or better |

<a id="reported-figures"></a>

| Metric | Source / calculated value | Sponsor comparison |
| --- | --- | --- |
| Annual return | 2.36% | Included |
| Hold period (years) | 14.12 | Included |
| Equity multiple | 1.33x | Included |
| Outcome | Break-even or better | Included |

<a id="investment-facts"></a>

| Field | Value |
| --- | --- |
| Annual-return method | Calculated simple |
| Reported IRR, kept separate | Unavailable |
| Source start date | 2001-03-16 |
| Source end date | 2015-04-30 |
| Offering structure | TIC / DST exchange-property program |

## Source and calculation notes

Return basis: Calculated simple. Annual method: Calculated simple.

Simple annual profit = (reported or supported equity multiple − 1) / reported or date-derived hold years. This is a descriptive annual rate, not IRR. Source discrepancies remain attached.

Hold method: Existing reviewed hold; Calendar days between disclosed dates /365.25.

Outcome basis: Unrounded reported/supported equity multiple compared with 1.00x; source valuation/capital basis applies.

Source: AEI Capital Corporation - AEI Healthcare Portfolio VII DST - PPM.pdf, PDF viewer pages 87.

Definition: Average annual cash-on-cash is rental income only. Total return = (net rent + net sale proceeds) / investors purchase price; equity multiple is that reported ratio. Weighted investor-level results. IRR and total average annual return not disclosed.

Original notes: Start date is Date of First Sale of investor interests. Hold calculated from disclosed first-sale and property-sale dates. Source table and surrounding narrative have differing as-of dates.

Structure: TIC / DST exchange-property program. Unconfirmed: false. Estimated: false. Valuation/in-kind exit: false.

<a id="additional-source-metrics"></a>

| Additional source metric | Value | Units |
| --- | --- | --- |
| Investors purchase price | 2475300 | USD |
| Net sale proceeds | 1252268 | Source value; see metric label/basis |
| Total net rent received | 2049318 | Source value; see metric label/basis |
| Average annual cash-on-cash return | 0.0626 | decimal rate |
| Total return including capital | 1.3338 | decimal ratio including original capital unless otherwise stated |

## Footnotes

<a id="note-40"></a>

### 40. Calculated simple annual return

Annual profit is calculated as (equity multiple − 1) / hold years where the source period supports those inputs. This is a descriptive simple annual return; it is not IRR or a compounded portfolio return. Individual calculation notes remain on each investment page.

## Proprietary compilation and use

Baker 1031 Investments, LLC’s selection, organization, annotations and presentation form a proprietary compilation. Underlying sponsor materials and third-party content remain subject to their respective owners’ rights. No open-data or redistribution license is granted. Contact Baker 1031 for permission to reproduce the compilation.

Methods: https://baker1031.com/data/full-cycle/methodology.md

Securities offered through Aurora Securities, Inc., member FINRA/SIPC. Baker 1031 Investments, LLC is independent of Aurora Securities, Inc. Contact: hello@baker1031.com.