ExchangeRight Fully Subscribes $109M Net-Leased Portfolio
ExchangeRight, a provider of diversified real estate DST and REIT investments, announced it fully subscribed its Net-Leased Portfolio 61 DST.
The $109.37 million offering totals 377,666 square feet net-leased to grocery, pharmacy, medical, and other necessity-based national tenants operating essential businesses.
The portfolio has been constructed to provide investors with monthly payouts beginning at a 5% annualized rate.
The offering contains 16 properties in 16 markets diversified across 11 states and 12, including CVS Pharmacy, Dollar General Market, Giant Eagle, Giant Food, Metro Market, Tractor Supply, and UnityPoint Health.
The portfolio launched with an 8.6-year weighted-average lease term and a loan-to-value of 42.86% through 5-year non-recourse interest-only financing.
“Given where we are in the macroeconomic cycle, Net-Leased Portfolio 61 DST reflects our focus on protecting investor wealth and income with our historically recession-resilient investment strategy,” said Joshua Ungerecht, a managing partner at ExchangeRight.
ExchangeRight and its affiliates’ platform manages over $5.6 billion in assets across 1,200 properties, and 22 million square feet throughout 47 states.
