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ExchangeRight Fully Subscribes $132 Million DST Offering

ExchangeRight, a sponsor of securitized 1031 exchanges and other real estate offerings, announced it has fully subscribed its $132.30 million Net-Leased Portfolio 56 DST, which includes 640,385 square feet of grocery, necessity-based retail, banking, and healthcare tenants.

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ExchangeRight, a sponsor of securitized 1031 exchanges and other real estate offerings, announced it has fully subscribed its $132.30 million Net-Leased Portfolio 56 DST, which includes 640,385 square feet of grocery, necessity-based retail, banking, and healthcare tenants.

According to a filing with the SEC, the private placement offering launched in June 2022 with a target equity raise of nearly $73 million.

The portfolio is comprised of 33 net-leased properties diversified across 19 states throughout the United States. The portfolio features 13 distinct tenants, including Woods Supermarket, Family Dollar, and Scheels All Sports with nine CVS Pharmacy locations providing 28 percent of NLP 56 DST’s net operating income. According to ExchangeRight, the properties are 100% occupied and operating, .

“We are honored by the trust that investors, representatives, and advisors continue to place in us for investors’ wealth management and retirement needs,” said Warren Thomas, a managing partner at ExchangeRight. “We are pleased to have provided advisors, representatives, and their investors with another stable portfolio net-leased primarily to investment-grade tenants operating essential businesses in necessity-based retail and healthcare industries. This offering is designed for economic resilience and aims to serve investors with dependable monthly income regardless of market forces.”

ExchangeRight and its affiliates’ platform has more than $5.3 billion in assets under management that are diversified across more than 1,100 properties and over 21 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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