ExchangeRight Fully Subscribes $109 Million DST Offering

ExchangeRight, a sponsor of diversified real estate DST and REIT investments, announced the company has fully subscribed its Net-Leased Portfolio 61 DST.

ExchangeRight says the $109.37 million offering totals 377,666 square feet net-leased to grocery, pharmacy, medical and other necessity-based national tenants operating essential businesses.

According to the company, the portfolio has been structured to provide investors with monthly distributions starting at an annualized rate of 5.0%.

The offering includes 16 properties in 16 markets diversified across 11 states and 12 “historically recession-resilient tenants,” including CVS Pharmacy, Dollar General Market, Giant Eagle, Giant Food, Metro Market, Tractor Supply and UnityPoint Health.

The portfolio was launched with a weighted-average lease term of 8.6 years and a 42.86% loan-to-value utilizing five-year non-recourse interest-only financing.

“Given where we are in the macroeconomic cycle, Net-Leased Portfolio 61 DST reflects our focus on protecting investor wealth and income with our historically recession-resilient investment strategy,” said Joshua Ungerecht, a managing partner at ExchangeRight. “With each offering we bring to market; we remain committed to faithfully stewarding investors’ hard-earned wealth through challenging economic conditions and providing them with multiple options upon exit as a part of our aggregation strategy.”

ExchangeRight and its affiliates’ platform has more than $5.6 billion in assets under management that are diversified across more than 1,200 properties and over 22 million square feet throughout 47 states. The company invests in net-leased properties in the necessity-based retail and healthcare industries, as well as value-add inline and outparcel retail spaces shadow-anchored by grocery tenants.

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