ExchangeRight Reports Texas Multifamily Portfolio Outperforms Projections

ExchangeRight, a sponsor of securitized 1031 exchange real estate offerings, reported that its El Paso Apartment Portfolio has outperformed its originally projected annualized cash flow distributions.

ExchangeRight, a sponsor of securitized 1031 exchange real estate offerings, reported that its El Paso Apartment Portfolio has outperformed its originally projected annualized cash flow distributions by 27.89 percent for its fiscal year three, providing investors with a 7.75 percent annualized distribution rate for the year.

According to filings with the Securities and Exchange Commission, ExchangeRight’s El Paso Apartment Portfolio is a Delaware statutory trust offering that launched in early 2018 and sought to raise $12.2 million in investor equity.

The El Paso Apartment Portfolio is a two-property Class B value-add multifamily offering totaling 393 units located in El Paso, Texas. The company indicated that occupancy levels and rent collections for the properties, Wyndchase Apartments and Villa Sierra Apartments, have “remained strong” throughout the pandemic. As of March 5, 2021, occupancy rates were 96.7 percent for Villa Sierra Apartments and 99.33 percent for Wyndchase Apartments.

ExchangeRight’s acquisition and investment strategy focused on the demographic features and positive economic growth of the El Paso market supported by its medical, military, and manufacturing bi-cultural workforce.

“We are very pleased not only to have been able to provide our investors with stable income throughout the COVID-19 pandemic and resulting economic downturn, but also to be able to distribute an additional bonus as a result of our investment strategy’s outperformance,” said Joshua Ungerecht, a managing partner of ExchangeRight. “As with all of our offerings, we are committed to reliable management and stewardship of capital in order to provide steady distributions that are designed to perform favorably despite economic volatility.”

ExchangeRight and its affiliates’ platform includes $3.2 billion in assets under management, comprised of 775 properties totaling approximately 13 million square feet and located throughout 40 states.

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