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Latest News  + Alternative Assets  + Real Estate  |  October 10, 2023
ExchangeRight Announces Fully Subscribed $90.5M DST Offering
Joe Palmisano
By: Joe Palmisano

ExchangeRight Announces Fully Subscribed $90.5M DST Offering

ExchangeRight, a provider of diversified real estate DST and REIT investments, announced the company has fully subscribed its Net-Leased Portfolio 60 DST, a $90.5 million offering featuring 397,201 square feet of grocery, healthcare, pharmacy, and necessity-based retail tenants.

The portfolio is structured to provide monthly distributions with a current annualized rate of 4.80%.

The DST was launched with a 43.37% loan-to-value and non-recourse interest-only financing at a fixed rate of 5.71% over a 5-year term. The offering contains 14 properties in 14 markets across 10 states and nine “recession-resilient tenants”, including ShopRite, CVS Pharmacy, GIANT Company, BioLife Plasma, Family Dollar, and Hobby Lobby.

“We created NLP 60 with the goal of providing investors with stable income, secure capital, and strategic exits by sticking to our historically recession-resilient investment strategy,” said Warren Thomas, a managing partner at ExchangeRight.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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