The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM D

Notice of Exempt Offering of Securities

OMB APPROVAL
OMB Number: 3235-0076
Estimated average burden
hours per response: 4.00

1. Issuer's Identity

CIK (Filer ID Number) Previous Names
X None
Entity Type
0001606661
   Corporation
   Limited Partnership
   Limited Liability Company
   General Partnership
   Business Trust
X Other (Specify)

Delaware Statutory Trust
Name of Issuer
National Net Lease Portfolio V DST
Jurisdiction of Incorporation/Organization
DELAWARE
Year of Incorporation/Organization
   Over Five Years Ago
X Within Last Five Years (Specify Year) 2014
   Yet to Be Formed

2. Principal Place of Business and Contact Information

Name of Issuer
National Net Lease Portfolio V DST
Street Address 1 Street Address 2
2901 BUTTERFIELD ROAD
City State/Province/Country ZIP/PostalCode Phone Number of Issuer
OAK BROOK ILLINOIS 60523 630-218-8000

3. Related Persons

Last Name First Name Middle Name
Inland Private Capital Corporation
Street Address 1 Street Address 2
2901 Butterfield Road
City State/Province/Country ZIP/PostalCode
Oak Brook ILLINOIS 60523
Relationship:    Executive Officer    Director X Promoter

Clarification of Response (if Necessary):


Last Name First Name Middle Name
National Net Lease Portfolio V, L.L.C.
Street Address 1 Street Address 2
2901 Butterfield Road
City State/Province/Country ZIP/PostalCode
Oak Brook ILLINOIS 60523
Relationship:    Executive Officer    Director X Promoter

Clarification of Response (if Necessary):


Last Name First Name Middle Name
National Net Lease Portfolio V Exchange, L.L.C.
Street Address 1 Street Address 2
2901 Butterfield Road
City State/Province/Country ZIP/PostalCode
Oak Brook ILLINOIS 60523
Relationship:    Executive Officer    Director X Promoter

Clarification of Response (if Necessary):


Last Name First Name Middle Name
Lampi Keith
Street Address 1 Street Address 2
2901 Butterfield Road
City State/Province/Country ZIP/PostalCode
Oak Brook ILLINOIS 60523
Relationship: X Executive Officer    Director    Promoter

Clarification of Response (if Necessary):

Mr. Lampi is the Chief Operating Officer of Inland Private Capital Corporation, the Member National Net Lease Portfolio V Exchange, L.L.C., the Signatory Trustee of National Net Lease Portfolio V DST.

4. Industry Group

   Agriculture
Banking & Financial Services
   Commercial Banking
   Insurance
   Investing
   Investment Banking
   Pooled Investment Fund
Is the issuer registered as
an investment company under
the Investment Company
Act of 1940?
   Yes    No
   Other Banking & Financial Services
   Business Services
Energy
   Coal Mining
   Electric Utilities
   Energy Conservation
   Environmental Services
   Oil & Gas
   Other Energy
Health Care
   Biotechnology
   Health Insurance
   Hospitals & Physicians
   Pharmaceuticals
   Other Health Care
   Manufacturing
Real Estate
   Commercial
   Construction
   REITS & Finance
   Residential
X Other Real Estate
  
Retailing
  
Restaurants
Technology
   Computers
   Telecommunications
   Other Technology
Travel
   Airlines & Airports
   Lodging & Conventions
   Tourism & Travel Services
   Other Travel
  
Other

5. Issuer Size

Revenue Range OR Aggregate Net Asset Value Range
   No Revenues    No Aggregate Net Asset Value
   $1 - $1,000,000    $1 - $5,000,000
   $1,000,001 - $5,000,000    $5,000,001 - $25,000,000
   $5,000,001 - $25,000,000    $25,000,001 - $50,000,000
   $25,000,001 - $100,000,000    $50,000,001 - $100,000,000
   Over $100,000,000    Over $100,000,000
X Decline to Disclose    Decline to Disclose
   Not Applicable    Not Applicable

6. Federal Exemption(s) and Exclusion(s) Claimed (select all that apply)

   Rule 504(b)(1) (not (i), (ii) or (iii))
   Rule 504 (b)(1)(i)
   Rule 504 (b)(1)(ii)
   Rule 504 (b)(1)(iii)
   Rule 505
X Rule 506(b)
   Rule 506(c)
   Securities Act Section 4(a)(5)
   Investment Company Act Section 3(c)
   Section 3(c)(1)    Section 3(c)(9)  
   Section 3(c)(2)    Section 3(c)(10)
   Section 3(c)(3)    Section 3(c)(11)
   Section 3(c)(4)    Section 3(c)(12)
   Section 3(c)(5)    Section 3(c)(13)
   Section 3(c)(6)    Section 3(c)(14)
   Section 3(c)(7)

7. Type of Filing

   New Notice Date of First Sale 2014-04-23    First Sale Yet to Occur
X Amendment

8. Duration of Offering

Does the Issuer intend this offering to last more than one year?
   Yes X No

9. Type(s) of Securities Offered (select all that apply)

   Equity    Pooled Investment Fund Interests
   Debt    Tenant-in-Common Securities
   Option, Warrant or Other Right to Acquire Another Security    Mineral Property Securities
   Security to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire Security X Other (describe)
Beneficial interests in Delaware Statutory Trust reflecting beneficial interests in real estate.

10. Business Combination Transaction

Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer?
   Yes X No

Clarification of Response (if Necessary):

11. Minimum Investment

Minimum investment accepted from any outside investor $25,000 USD

12. Sales Compensation

Recipient
Recipient CRD Number    None
Lawrence R. Fioroni, Jr. 1988099
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
CliftonLarsonAllen Wealth Advisors, LLC 38357
Street Address 1 Street Address 2
610 West Germantown Pike, Suite 400
City State/Province/Country ZIP/Postal Code
Plymouth Meeting PENNSYLVANIA 19462
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
MASSACHUSETTS

Recipient
Recipient CRD Number    None
Shawn M. Layton 5893472
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Proequities, Inc. 15708
Street Address 1 Street Address 2
11411 NE 124th Street, Suite 275
City State/Province/Country ZIP/Postal Code
Kirkland WASHINGTON 98034
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
WASHINGTON

Recipient
Recipient CRD Number    None
Patrick E. Thomas, Jr. 5708581
(Associated) Broker or Dealer X None
(Associated) Broker or Dealer CRD Number X None
None None
Street Address 1 Street Address 2
2535 17th Street, Suite D
City State/Province/Country ZIP/Postal Code
Denver COLORADO 80201
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
COLORADO

Recipient
Recipient CRD Number    None
Michael T. Janis 5308832
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Madison Avenue Securities, Inc. 23224
Street Address 1 Street Address 2
3655 Torrance Boulevard, Suite 250
City State/Province/Country ZIP/Postal Code
Torrance CALIFORNIA 90503
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
CALIFORNIA

Recipient
Recipient CRD Number    None
Bruce S. Horowitz 1333901
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Commonwealth Financial Network 8032
Street Address 1 Street Address 2
6767 Forest Lawn Drive, Suite 120
City State/Province/Country ZIP/Postal Code
Los Angeles CALIFORNIA 90068-1027
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
CALIFORNIA

Recipient
Recipient CRD Number    None
Nathaniel M. Kuhn 4624143
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Concorde Investment Services, LLC 151604
Street Address 1 Street Address 2
1100 West Northwest Highway, Suite 114
City State/Province/Country ZIP/Postal Code
Mt. Prospect ILLINOIS 60056
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
ILLINOIS
IOWA

Recipient
Recipient CRD Number    None
Ahmad Husami 2362818
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
12631 East Imperial Highway Building G, Suite 110
City State/Province/Country ZIP/Postal Code
Santa Fe Springs CALIFORNIA 90670
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
CALIFORNIA

Recipient
Recipient CRD Number    None
Robert R. Tweed 2339324
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Concorde Investment Services, LLC 151604
Street Address 1 Street Address 2
2060 Huntington Drive, Suite 1
City State/Province/Country ZIP/Postal Code
San Marino CALIFORNIA 91108
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
CALIFORNIA

Recipient
Recipient CRD Number    None
Joseph A. Nugent 4019776
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Concorde Investment Services, LLC 151604
Street Address 1 Street Address 2
3457 Binghurst Road
City State/Province/Country ZIP/Postal Code
Suwanee GEORGIA 30024
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
FLORIDA

Recipient
Recipient CRD Number    None
Mark O. Coombe 2733655
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
5635 NE Elam Young Parkway, Suite 100
City State/Province/Country ZIP/Postal Code
Hillsboro OREGON 97124
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
OREGON

Recipient
Recipient CRD Number    None
Peter D. Fisher 1259923
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Investacorp, Inc. 7684
Street Address 1 Street Address 2
2901 Butterfield Road
City State/Province/Country ZIP/Postal Code
Oak Brook ILLINOIS 60523
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
OHIO

Recipient
Recipient CRD Number    None
Richard S. Schwartz 2037308
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
National Securities Corporation 7569
Street Address 1 Street Address 2
3265 Johnson Avenue, Suite 304
City State/Province/Country ZIP/Postal Code
Bronx NEW YORK 10463
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
NEW YORK

Recipient
Recipient CRD Number    None
Greg Bachman 2948151
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Purshe Kaplan Sterling Investments 35747
Street Address 1 Street Address 2
2358 NW Kings Boulevard, Suite 200
City State/Province/Country ZIP/Postal Code
Corvallis OREGON 97330
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
OREGON

Recipient
Recipient CRD Number    None
Robin T. Hirsch 4001429
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Woodbury Financial Services, Inc. 421
Street Address 1 Street Address 2
926 Lake Avenue, Suite A
City State/Province/Country ZIP/Postal Code
Gothenburg NEBRASKA 69138
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
NORTH CAROLINA

Recipient
Recipient CRD Number    None
Jean-Louis Guinchard 1983431
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Silver Portal Capital LLC 114290
Street Address 1 Street Address 2
12265 El Camino Real, Suite 230
City State/Province/Country ZIP/Postal Code
San Diego CALIFORNIA 92130
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
CALIFORNIA

Recipient
Recipient CRD Number    None
Jose A. Feliciano, Jr. 2303100
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Woodbury Financial Services, Inc. 421
Street Address 1 Street Address 2
1828 East Southeast Loop 323, Suite 200
City State/Province/Country ZIP/Postal Code
Tyler TEXAS 75701
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
TEXAS

Recipient
Recipient CRD Number    None
Stephen R. Foster 4851836
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Royal Alliance Securities, Inc. 23131
Street Address 1 Street Address 2
14015 Park Drive, Suite 107
City State/Province/Country ZIP/Postal Code
Tomball TEXAS 77377
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
TEXAS

Recipient
Recipient CRD Number    None
David B. Clark 2836304
(Associated) Broker or Dealer X None
(Associated) Broker or Dealer CRD Number X None
None None
Street Address 1 Street Address 2
2804 South 87th Avenue
City State/Province/Country ZIP/Postal Code
Omaha NEBRASKA 68124
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
NEBRASKA

Recipient
Recipient CRD Number    None
Marinos Ballas 2843677
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Aegis Capital Corp. 15007
Street Address 1 Street Address 2
510 Broadhollow Road, Suite 104
City State/Province/Country ZIP/Postal Code
Melville NEW YORK 11747
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
ILLINOIS

Recipient
Recipient CRD Number    None
Robert J. Binkele 2393598
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
J.P. Turner & Company, L.L.C. 43177
Street Address 1 Street Address 2
45110 Club Drive, Suite B
City State/Province/Country ZIP/Postal Code
Indian Wells CALIFORNIA 92210
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
NEW JERSEY

Recipient
Recipient CRD Number    None
Conrad R. Pensavalle, Jr. 717575
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Commonwealth Financial Network 8032
Street Address 1 Street Address 2
5 Burlington Woods, Suite 102
City State/Province/Country ZIP/Postal Code
Burlington MASSACHUSETTS 01803
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
NEW HAMPSHIRE

Recipient
Recipient CRD Number    None
Jonathan R. Creighton 1495897
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Concorde Investment Services, LLC 151604
Street Address 1 Street Address 2
350 Lincoln Street, Suite 2400
City State/Province/Country ZIP/Postal Code
Hingham MASSACHUSETTS 02043
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
FLORIDA
MASSACHUSETTS

Recipient
Recipient CRD Number    None
John T. Christy 4573758
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Royal Alliance Associates, Inc. 23131
Street Address 1 Street Address 2
5440 North Oak, Suite 250
City State/Province/Country ZIP/Postal Code
Kansas City MISSOURI 64118
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
KANSAS

Recipient
Recipient CRD Number    None
Scott S. Brown 4322420
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
2234 East Colorado Boulevard
City State/Province/Country ZIP/Postal Code
Pasadena CALIFORNIA 91107
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
CALIFORNIA

Recipient
Recipient CRD Number    None
Norman G. Price 2406981
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
RP Capital LLC 134768
Street Address 1 Street Address 2
7191 Wagner Way, NW, Suite 302
City State/Province/Country ZIP/Postal Code
Gig Harbor WASHINGTON 98335
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
CALIFORNIA

Recipient
Recipient CRD Number    None
Jason B. Vanclef 5096529
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
VFG Securities, Inc. 15121
Street Address 1 Street Address 2
100 Corporate Pointe, Suite 382
City State/Province/Country ZIP/Postal Code
Culver City CALIFORNIA 90230-7612
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
CALIFORNIA

Recipient
Recipient CRD Number    None
Robert P. Giadla 4277318
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Silver Portal Capital LLC 114290
Street Address 1 Street Address 2
12265 El Camino Real, Suite 230
City State/Province/Country ZIP/Postal Code
San Diego CALIFORNIA 92130
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
CALIFORNIA

Recipient
Recipient CRD Number    None
Dwight K. Kay 5376903
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Concorde Investment Services, LLC 151604
Street Address 1 Street Address 2
927 Deep Valley Drive, Suite 196
City State/Province/Country ZIP/Postal Code
Rolling Hills Estates CALIFORNIA 90274
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
NEW YORK

Recipient
Recipient CRD Number    None
Jeffrey S. Gurman 2112531
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Cambridge Investment Research, Inc. 39543
Street Address 1 Street Address 2
400 Corporate Ponte, Suite 300
City State/Province/Country ZIP/Postal Code
Culver City CALIFORNIA 90230
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
CALIFORNIA

Recipient
Recipient CRD Number    None
Joral T. Schmalle 4491484
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Sigma Financial Corporation 14303
Street Address 1 Street Address 2
1009 Amito Drive
City State/Province/Country ZIP/Postal Code
Berkeley CALIFORNIA 94705
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
CALIFORNIA

Recipient
Recipient CRD Number    None
Joseph R. Weinbauer 2714070
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Berthel, Fisher & Company Financial Services, Inc. 13609
Street Address 1 Street Address 2
1824 Chouteau Avenue, Rear
City State/Province/Country ZIP/Postal Code
St. Louis MISSOURI 63103-3002
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
ILLINOIS

Recipient
Recipient CRD Number    None
Scott T. Tadsen 4868882
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Northland Securities, Inc. 40258
Street Address 1 Street Address 2
45 South 7th Street, 20th Floor
City State/Province/Country ZIP/Postal Code
Minneapolis MINNESOTA 55402
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
MINNESOTA

Recipient
Recipient CRD Number    None
Roger T. Tadsen 1053510
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Northland Securities, Inc. 40258
Street Address 1 Street Address 2
45 South 7th Street, 20th Floor
City State/Province/Country ZIP/Postal Code
Minneapolis MINNESOTA 55402
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
MINNESOTA

Recipient
Recipient CRD Number    None
Vincent R. Bailey, Sr. 1845517
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Berthel, Fisher & Company Financial Services, Inc. 13609
Street Address 1 Street Address 2
41 West 035 Oakhills Court
City State/Province/Country ZIP/Postal Code
Elburn ILLINOIS 60119
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
ILLINOIS

Recipient
Recipient CRD Number    None
David M. Matles 2995484
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Sigma Financial Corporation 14303
Street Address 1 Street Address 2
17662 Irvine Boulevard, Suite 18
City State/Province/Country ZIP/Postal Code
Tustin CALIFORNIA 92780
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
CALIFORNIA

Recipient
Recipient CRD Number    None
Richard D. Greenwell 865766
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Money Concepts Capital Corp. 12963
Street Address 1 Street Address 2
323 Townepark Circle
City State/Province/Country ZIP/Postal Code
Louisville KENTUCKY 40243
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
KENTUCKY

Recipient
Recipient CRD Number    None
David L. Cowguill 1275601
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Woodbury Financial Services, Inc. 421
Street Address 1 Street Address 2
4255 Rec Drive
City State/Province/Country ZIP/Postal Code
Marion IOWA 52302
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
IOWA

Recipient
Recipient CRD Number    None
Jeffrey B. Baker 2102752
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Vanderbilt Securities, LLC 5953
Street Address 1 Street Address 2
12 East Water Street
City State/Province/Country ZIP/Postal Code
Newburgh INDIANA 47629
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
INDIANA

Recipient
Recipient CRD Number    None
Daniel R. Mueller 4464268
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
5635 NE Elam Young Parkway, Suite 100
City State/Province/Country ZIP/Postal Code
Hillsboro OREGON 97124
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
OREGON

Recipient
Recipient CRD Number    None
Michele A. Russell 3246030
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Royal Alliance Associates, Inc. 23131
Street Address 1 Street Address 2
909 Washington Street, Suite 202
City State/Province/Country ZIP/Postal Code
Stoughton MASSACHUSETTS 02072
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
MASSACHUSETTS

Recipient
Recipient CRD Number    None
Craig M. Rollins 1896698
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
DFPG Investments, Inc. 155576
Street Address 1 Street Address 2
742 North 530 East
City State/Province/Country ZIP/Postal Code
Orem UTAH 84097
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
UTAH

Recipient
Recipient CRD Number    None
Brian C. McDaid 1900056
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Securities America, Inc. 10205
Street Address 1 Street Address 2
136 Summit Avenue, Suite 203 West Wing, 2nd Floor
City State/Province/Country ZIP/Postal Code
Montvale NEW JERSEY 07645
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
NEW YORK

Recipient
Recipient CRD Number    None
Dean Kantzos 4554225
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
1114 Goffle Road
City State/Province/Country ZIP/Postal Code
Hawthorne NEW JERSEY 07506
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
NEW JERSEY

Recipient
Recipient CRD Number    None
William H. Lowell 1158722
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Lowell & Company, Inc. 24913
Street Address 1 Street Address 2
4021 84th Street, Suite 100
City State/Province/Country ZIP/Postal Code
Lubbock TEXAS 79423
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
TEXAS

Recipient
Recipient CRD Number    None
Stephen R. Galli 1719794
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
25 West 45th Street, Suite 504
City State/Province/Country ZIP/Postal Code
New York NEW YORK 10036
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
NEW JERSEY

Recipient
Recipient CRD Number    None
Paul Hundley 5283588
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Securities America, Inc. 10205
Street Address 1 Street Address 2
144 Gould Street, Suite 210
City State/Province/Country ZIP/Postal Code
Needham MASSACHUSETTS 02494
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
MASSACHUSETTS

Recipient
Recipient CRD Number    None
Michael Stieglitz 4623788
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
200 Valley Road, Suite 300
City State/Province/Country ZIP/Postal Code
Mount Arlington NEW JERSEY 07856
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
NEW JERSEY

Recipient
Recipient CRD Number    None
Kerri M. Sullivan-Kreiss 2141713
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Commonwealth Financial Network 8032
Street Address 1 Street Address 2
225 Cedar Hill Street, Suite 200
City State/Province/Country ZIP/Postal Code
Marlborough MASSACHUSETTS 01752
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
MASSACHUSETTS

Recipient
Recipient CRD Number    None
Eric J. Schindler 1439999
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Cetera Advisors LLC 10299
Street Address 1 Street Address 2
7777 Alvarado Road, Suite 621
City State/Province/Country ZIP/Postal Code
La Mesa CALIFORNIA 91942
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
CALIFORNIA

Recipient
Recipient CRD Number    None
Jacob T. Young 2778779
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Securities America, Inc. 10205
Street Address 1 Street Address 2
195 Aviation Way, Suite 101
City State/Province/Country ZIP/Postal Code
Watsonville CALIFORNIA 95076
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
CALIFORNIA

Recipient
Recipient CRD Number    None
David A. Russon 1194052
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Cambridge Investment Research, Inc. 39543
Street Address 1 Street Address 2
6465 South 3000 East, Suite 200
City State/Province/Country ZIP/Postal Code
Salt Lake City UTAH 84121
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
UTAH

Recipient
Recipient CRD Number    None
Brent A. Cochran 2361173
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Cambridge Investment Research, Inc. 39543
Street Address 1 Street Address 2
6465 South 3000 East, Suite 200
City State/Province/Country ZIP/Postal Code
Salt Lake City UTAH 84121
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
UTAH

Recipient
Recipient CRD Number    None
Christina S. Nielson 4866971
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Primex 29394
Street Address 1 Street Address 2
349 Gulf Stream Way
City State/Province/Country ZIP/Postal Code
Costa Mesa CALIFORNIA 92627
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
CALIFORNIA

Recipient
Recipient CRD Number    None
Mark K. Johnson 1433801
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Dougherty & Company LLC 7477
Street Address 1 Street Address 2
4133 30th Avenue South, Suite 102
City State/Province/Country ZIP/Postal Code
Fargo NORTH DAKOTA 58104
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
NORTH DAKOTA

Recipient
Recipient CRD Number    None
Chad Q. Quamme 4413885
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Dougherty & Company LLC 7477
Street Address 1 Street Address 2
4133 30th Avenue South, Suite 102
City State/Province/Country ZIP/Postal Code
Fargo NORTH DAKOTA 58104
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
NORTH DAKOTA

Recipient
Recipient CRD Number    None
Gary L. Price, Sr. 2992909
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
1st Global Capital Corp. 30349
Street Address 1 Street Address 2
1220 B Stonehollow Drive
City State/Province/Country ZIP/Postal Code
Kingwood TEXAS 77339
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
TEXAS

Recipient
Recipient CRD Number    None
James H. Duren 73923
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Sagepoint Financial, Inc. 133763
Street Address 1 Street Address 2
2220 University Boulevard
City State/Province/Country ZIP/Postal Code
Tuscaloosa ALABAMA 35401
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
ALABAMA

Recipient
Recipient CRD Number    None
Robert S. Bye 4357627
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Securities America, Inc. 10205
Street Address 1 Street Address 2
4310 17th Avenue South
City State/Province/Country ZIP/Postal Code
Fargo NORTH DAKOTA 58108-2545
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
NORTH DAKOTA

Recipient
Recipient CRD Number    None
Darren S. Watson 2665603
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Cambridge Investment Research, Inc. 39543
Street Address 1 Street Address 2
6201 College Boulevard, 7th Floor
City State/Province/Country ZIP/Postal Code
Overland Park KANSAS 66211
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States
   All States
   Foreign/non-US
MISSOURI

13. Offering and Sales Amounts

Total Offering Amount $37,089,317 USD
or    Indefinite
Total Amount Sold $29,088,658 USD
Total Remaining to be Sold $8,000,659 USD
or    Indefinite

Clarification of Response (if Necessary):

14. Investors

  
Select if securities in the offering have been or may be sold to persons who do not qualify as accredited investors, and enter the 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:
70

15. Sales Commissions & Finder's 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 $1,761,743 USD
X Estimate
Finders' Fees $0 USD
   Estimate

Clarification of Response (if Necessary):

This response is based on the assumption that the full amount of the potential sales commissions will be earned and paid.

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.

$1,818,688 USD
X Estimate

Clarification of Response (if Necessary):

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, in the accordance with applicable law, 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 the issuer 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 Regulation D for one of the reasons stated in Rule 505(b)(2)(iii) 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.

Issuer Signature Name of Signer Title Date
National Net Lease Portfolio V DST /s/ Keith Lampi Keith Lampi COO of the Member of the Signatory Trustee 2014-09-08

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

* This undertaking does not affect any limits Section 102(a) of the National Securities Markets Improvement Act of 1996 ("NSMIA") [Pub. L. No. 104-290, 110 Stat. 3416 (Oct. 11, 1996)] imposes on the ability of States to require information. As a result, if the securities that are the subject of this Form D are "covered securities" for purposes of NSMIA, whether in all instances or due to the nature of the offering that is the subject of this Form D, States cannot routinely require offering materials under this undertaking or otherwise and can require offering materials only to the extent NSMIA permits them to do so under NSMIA's preservation of their anti-fraud authority.