ExchangeRight Fully Subscribes $58.95 Million DST Portfolio

ExchangeRight, a sponsor of securitized 1031 exchanges and other real estate offerings, announced that it fully subscribed its $58.95 million Net-Leased Portfolio 57 DST.

The portfolio includes 283,313 square feet of property net-leased to grocery, healthcare and “necessity-based” retail tenants. The offering launched with a loan-to-value of 48% percent and non-recourse interest-only financing at a fixed rate of 4% over a seven-year term.

The offering contains six long-term net-leased properties diversified across five states. A Wegmans Food Market in North Wales, Pennsylvania, provides 40% of the portfolio’s net operating income. Kroger, Walgreens and Fresenius Medical Care are also present in the portfolio.

“We are grateful for the investors, advisors and representatives who chose to entrust us with their wealth by investing in this DST,” said Joshua Ungerecht, managing partner at ExchangeRight. “Our capital- and income-preservation strategy is designed to provide stable passive income to investors through market cycles, including recessions, economic crises and periods of high inflation. Due to our focus on primarily investment-grade tenants in essential industries, all of our net lease offerings have consistently produced monthly cash flow at or above projected distribution targets.”

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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