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ExchangeRight Fully Subscribes $90.5 Million DST Offering

ExchangeRight Fully Subscribes $90.5 Million DST Offering. 1031 Exchange, alternative investments, Delaware statutory trust, DST, ExchangeRight, ExchangeRight Essential Income REIT, ExchangeRight Real Estate, retail
ExchangeRight Fully Subscribes $90.5 Million DST Offering. 1031 Exchange, alternative investments, Delaware statutory trust, DST, ExchangeRight, ExchangeRight Essential Income REIT, ExchangeRight Real Estate, retail

ExchangeRight, a sponsor of Delaware statutory trusts and real estate investment trust investments, announced the company has fully subscribed its Net-Leased Portfolio 60 DST, a $90.5 million offering.

The portfolio includes nearly 400,000 square feet of grocery, healthcare, pharmacy and necessity-based retail tenants and is structured to provide investors with monthly distributions totaling an annualized rate of 4.80%.

The DST was launched with a 43.37% loan-to-value and non-recourse, interest-only financing at a fixed rate of 5.71% over a five-year term. The portfolio is comprised of 14 properties in 14 markets across 10 states and what ExchangeRight identifies as “recession-resilient” tenants, including ShopRite, CVS Pharmacy, GIANT Company, BioLife Plasma, Family Dollar and Hobby Lobby.

“We created NLP 60 with the goal of providing investors with stable income, secure capital, and strategic exits by sticking to our historically recession-resilient investment strategy,” said Warren Thomas, a managing partner at ExchangeRight. “Since we started ExchangeRight in 2012, each one of our offerings has successfully provided uninterrupted cash flow distributions to investors with funds exclusively generated from their underlying assets, even throughout times of economic volatility. We are proud of this track record, with all 90 of our current and past offerings having met or exceeded their distribution projections every month since our inception.”

ExchangeRight reports that the company and its affiliates’ platform has more than $5.6 billion in assets under management that are diversified across more than 1,200 properties and over 23 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.

For more ExchangeRight news, please visit their directory page.