ExchangeRight Fully Subscribes All-Cash DST Offering

ExchangeRight, a sponsor of securitized 1031 exchange real estate offerings, has fully subscribed its $33.6 million Net-Leased Portfolio 33 DST.

ExchangeRight, a sponsor of securitized 1031 exchange real estate offerings, has fully subscribed its $33.6 million Net-Leased Portfolio 33 DST, an equity Delaware Statutory Trust private placement offering.

The offering launched on March 24 and invests in properties occupied by tenants in the necessity-based retail and healthcare industries, including Dollar General, Walgreens, and Tractor Supply.

The portfolio is comprised of 11 single-tenant properties located in Alabama, Illinois, Louisiana, Ohio, and Texas, and is fully occupied with a weighted-average lease term of 13.1 years.

Net-Leased Portfolio 33 DST is designed for investors seeking to participate in a 1031 tax-deferred exchange, as well as those seeking a real estate investment on a cash basis. ExchangeRight said that the current cash flow to investors is 5.15 percent with annual targeted increases given the portfolio’s leases that have contractual rent increases.

“The demand for our secure and stable net-leased portfolios remains high in light of the present economic volatility, and we are pleased we have been able to serve the needs of the investors and advisors that entrust us with their wealth,” said Warren Thomas, a managing partner of ExchangeRight.

ExchangeRight and its affiliates’ platform includes more than 675 properties totaling 14 million square feet located in 38 states. The company has more than $2.6 billion in assets under management.

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