Home News ExchangeRight Fully Subscribes DST Offering of 12 Net-Leased Properties

ExchangeRight Fully Subscribes DST Offering of 12 Net-Leased Properties

ExchangeRight, a sponsor of securitized 1031 exchange real estate offerings, has fully subscribed its Net-Leased Portfolio 47 Delaware statutory trust offering.

ExchangeRight, a sponsor of securitized 1031 exchange real estate offerings, has fully subscribed its Net-Leased Portfolio 47 Delaware statutory trust offering.

The offering launched in early June 2021 and raised $38.8 million from accredited investors, which was deployed to purchase 12 fully occupied, net-leased properties for nearly $58.9 million. The offering was substantially completed in July, and had the last investor closing as of August 13, 2021, the company said.

The single-tenant properties are diversified across nine states, including California, Tennessee, Texas, and Idaho, and leased to Kroger, Giant Eagle, Walmart, Dollar Tree, Walgreens, Fresenius Medical Care, Dollar General, Verizon Wireless, BB&T Bank, and NAPA Auto Parts.

ExchangeRight said that the offering launched with 10-year interest-only financing at 2.9 percent and was structured to generate monthly cash flow to investors starting at 6.1 percent annualized.

ExchangeRight invests in properties leased to providers of necessity-based retail and medical services. The company and its affiliates’ platform has more than $3.8 billion in assets under management across more than 900 properties, totaling approximately 15 million square feet.

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