ExchangeRight Fully Subscribes $100 Million Net-Leased DST Offering

ExchangeRight, a sponsor of securitized 1031 exchange real estate offerings, has fully subscribed its $100 million Net-Leased Portfolio 26 DST offering.

ExchangeRight, a sponsor of securitized 1031 exchange real estate offerings, has fully subscribed its $100 million Net-Leased Portfolio 26 DST offering. The Delaware statutory trust offering was designed for investors seeking to participate in a 1031 tax-deferred exchange, as well as those seeking a real estate investment.

The portfolio is comprised of 19 properties with long-term net leases to investment-grade tenants operating in the necessity retail and healthcare industries, including CVS, Dollar General, Pick ‘n Save (Kroger guaranty), AutoZone, HyVee Grocery, and Tractor Supply.

Net-Leased Portfolio 26 launched in March 2019 and closed with 10-year, interest-only, non-recourse financing with a stated annual rate of 4.58 percent and a weighted-average lease term of 14.3 years.

“We are pleased with the successful capital raise on Net-Leased Portfolio 26, which was created to provide 1031 and cash investors with stable cash flow and capital preservation designed to endure market volatility,” said Warren Thomas, a managing member of ExchangeRight. “We are honored to have had the privilege of stewarding an additional $325.4 million of DST equity investments on behalf of our investors and their advisors in 2019.”

ExchangeRight also noted that it had a record-breaking year of sales in 2019, representing 48 percent year-over-year growth.

Based in Pasadena, California, ExchangeRight and its affiliates, have more than $2.4 billion in assets under management. The company’s platform is comprised of 650+ properties totaling more than 13 million square feet.

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