ExchangeRight Fully Subscribes $113.34 Million Net-Leased DST Offering

ExchangeRight, a sponsor of securitized 1031 exchange real estate offerings, has fully subscribed its $113.34 million Net-Leased Portfolio 30 Delaware statutory trust offering.

ExchangeRight, a sponsor of securitized 1031 exchange real estate offerings, has fully subscribed its $113.34 million Net-Leased Portfolio 30 Delaware statutory trust offering.

The portfolio is 100 percent occupied and includes 21 single-tenant necessity retail and healthcare properties located in seven states, including Illinois, Michigan, and Texas. Tenants include Giant Eagle Grocery, Dollar General, Fresenius Medical Care, and Tractor Supply Company.

The offering launched in October 2019 and closed with 10-year interest-only, non-recourse financing with a stated annual rate of 3.66 percent and a weighted-average lease term of 11.9 years.

The portfolio is designed for investors seeking to participate in a 1031 tax-deferred exchange, as well as investors seeking a real estate investment on a cash basis. ExchangeRight’s current cash flow to investors is 6.8 percent with annual targeted increases given the portfolio’s leases have contractual rent increases, the company said.

ExchangeRight is a real estate investment firm with more than 650 properties totaling 13 million square feet and located throughout 38 different states. The company sponsors real estate investment trusts and 1031-exchange investment offerings and has more than $2.4 billion in assets under management.

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