ExchangeRight, a sponsor of securitized 1031 exchange real estate offerings, has fully subscribed its $18.7 million Net-Leased Portfolio 34 DST, the company’s latest all-equity Delaware statutory trust offering that invests in necessity-based retail and healthcare properties.
Net-Leased Portfolio 34 is fully occupied by Ballad Health, Walgreens, FedEx, and Dollar General with properties located in Illinois, North Carolina, Pennsylvania, and Virginia. The portfolio has a weighted-average lease term of 10.6 years.
ExchangeRight said that the portfolio is designed for investors seeking to participate in a 1031 exchange, as well as investors seeking a cash investment in net-leased real estate. The company also noted that the current cash flow to investors is 5.11 percent with annual targeted increases given the portfolio’s leases that have contractual rent increases.
ExchangeRight and its affiliates’ platform includes more than 700 properties totaling 14 million square feet located in 38 states. The company has more than $2.8 billion in assets under management.