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ExchangeRight Announces Fully Subscribed $90.5M DST Offering

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 for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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