ExchangeRight, a sponsor of securitized 1031 exchange real estate offerings, has fully subscribed its $121.4 million Net-Leased Portfolio 41 Delaware statutory trust offering.
The private placement offering launched in November 2020, according to a filing with the Securities and Exchange Commission.
Net-Leased Portfolio 41 includes 18 net-leased properties located in 12 different states, including Arizona, Texas, and Virginia. Tenants include BioLife, Dignity Health, Tractor Supply Company, and Walmart Neighborhood Market.
ExchangeRight said that the portfolio is structured to generate monthly cash flow to investors, starting at 6.31 percent annualized. The offering launched with 10-year financing with a fixed annual interest rate of 3.20 percent and interest-only payments for the entire loan term.
“Our latest offering continues our investment strategy of focusing on essential businesses in the necessity-based retail and healthcare industries that demonstrate strong financial performance amid economic volatility,” said Warren Thomas, a managing partner of ExchangeRight. “We are pleased to add Dignity Health and Walmart Neighborhood Market as tenants that fit this investment strategy.”
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 39 states.