ExchangeRight Fully Subscribes Net-Leased DST Offering

ExchangeRight, a sponsor of securitized 1031 exchange real estate offerings, has fully subscribed its Net-Leased Portfolio 49 Delaware statutory trust offering.

ExchangeRight, a sponsor of securitized 1031 exchange real estate offerings, has fully subscribed its Net-Leased Portfolio 49 Delaware statutory trust offering.

The offering launched in August 2021 and raised nearly $58.6 million from accredited investors, which was deployed to purchase 29 fully occupied net-leased properties for $126 million.

The 600,000-square-foot portfolio is leased to CVS Pharmacy, Dollar General, Dollar Tree, Hobby Lobby, Octapharma Plasma, Pick ‘n Save, Walgreens, and other essential operators. The properties are diversified across 16 states, including California, Georgia, Michigan, Illinois, and Ohio.

ExchangeRight said that the offering is structured to generate monthly cash flow to investors, starting at an annualized rate of 6.15 percent. The offering launched with a 5-year fixed-rate interest-only financing at a 3.516 percent interest rate.

“We significantly increased the offering size of our newest DST to accommodate the wealth management needs of as many investors as we could,” said Warren Thomas, a managing partner. “We are pleased to provide another diversified ExchangeRight offering for 1031-exchange investors’ capital that is intended to defer investors’ taxes, produce stable income through economic cycles, preserve investor wealth, and provide a strategic exit.”

ExchangeRight invests in properties leased to providers of necessity-based retail and medical services. The company and its affiliates’ platform has more than $4.5 billion in assets under management across more than 1,000 properties, totaling approximately 18 million square feet.

For more ExchangeRight news, please visit their directory page.