A Call for Choice in Real Estate Exchange Strategies

The real estate tax exchange marketplace is evolving quickly, with 721 exchange strategies playing an increasingly prominent role in discussions around tax-advantaged real estate investing. Current Mountain Dell Consulting data reflects the continued prominence of Delaware statutory trust (DST) programs featuring a potential future 721 exchange component, with such programs representing approximately 52% of total DST sales as of late September 2026.

For many, the ability to participate in a future 721 exchange is a valuable consideration for a potential investor in a DST program, offering tax deferral, passive ownership, and potential diversification. A DST that provides investors with the potential future ability to participate in a 721 exchange, sometimes referred to herein as a 721 DST, may also appear attractive because of its potential future liquidity features, however, accessing this liquidity may be limited.

Full op-ed by Matthew Fries, CEO & President, Inland Real Estate Investment Corporation available here.