
ExchangeRight Fully Subscribes $28.49M Texas, Arizona DST Offering
ExchangeRight announced it has fully subscribed its $28.49 million Net-Leased All-Cash 10 Delaware Statutory Trust (DST) offering. The portfolio consists of five net-leased properties leased to national, primarily investment-grade tenants in recession-resilient, necessity-based industries, such as Tractor Supply, Dollar Tree, Hobby Lobby, and Dollar General Market. The properties are located across Texas and Arizona, together spanning 124,641 square feet. The offering is now closed to new investors.
The debt-free offering provides investors with monthly distributions at a current annualized rate of 5.20%, fully covered by in-place lease revenues, and features an initial weighted-average lease term of 14.7 years.
The exit strategy for the DST aligns with ExchangeRight’s aggregation approach, offering investors flexibility through options like a subsequent 1031 exchange, tax-deferred cash-out financing, a 721 exchange into REIT partnership units, or a non-tax-deferred cash-out.
“The successful subscription of the Net-Leased All-Cash 10 DST highlights investor trust in ExchangeRight’s disciplined approach to asset selection, which focuses on stability, income security, and strategic exit options for our investors,” said Warren Thomas, managing partner of ExchangeRight.”
In March, the firm announced it fully subscribed its $81.57 million Net-Leased Portfolio 67 DST. In February, it announced that its $23.26 million All-Cash 6 DST offering had been fully subscribed. In December, the company announced the completion of its 34th full-cycle event with the acquisition of Net-Leased Portfolio 28 DST’s 23-property portfolio by the company’s Essential Income REIT.
Pasadena-based ExchangeRight and its affiliates’ vertically integrated platform features over $6.4 billion in assets under management across more than 1,300 properties, and 25 million square feet throughout 47 states.
