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ExchangeRight Fully Subscribes $89 Million DST Offering

ExchangeRight, a provider of Delaware statutory trust and non-traded real estate investment trust investment offerings, has fully subscribed its Net-Leased Portfolio 64 DST, an $89.2 million private placement offering launched in August 2023.

The Delaware statutory trust owns a portfolio spanning more than 444,000 square feet of necessity-based retail tenants and is structured to provide monthly distributions with a current annualized rate of 5%.

The DST was launched with a nearly 40.3% loan-to-value and non-recourse interest-only financing at a fixed rate of 5.8% over a five-year term. The offering’s portfolio contains 15 properties diversified across 14 markets, 12 states, and six historically recession-resilient tenants, including FedEx, Tractor Supply, Hobby Lobby, Dollar General, Family Dollar/Dollar Tree combo store, and Dollar General Plus.

“More representatives and advisers are allocating a portion of their clients’ wealth into ExchangeRight’s historically strong-performing offerings to position them for capital preservation with the opportunity for enhanced returns even through economic volatility,” said Warren Thomas, a managing partner at ExchangeRight.

“We are the only DST sponsor we know of in the 1031/DST market that has maintained a perfect track record of delivering cash flows meeting or exceeding initial projections across all of our offerings since our inception. It’s an honor to serve the investors and industry partners who trust us to consistently deliver stable income and strategic exits,” Thomas added.

Last week, ExchangeRight announced it had fully subscribed its Net-Leased All-Cash 2 DST, a $24.8 million debt-free offering with properties in Florida, Idaho, and Texas.

ExchangeRight reports that the company and its affiliates’ platform has more than $5.9 billion in assets under management that are diversified across more than 1,200 properties and over 24 million square feet across 47 states, as of March 31, 2024. 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 on behalf of more than 8,100 investors.

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