ExchangeRight Closes $90.7M Net-Leased Portfolio 73 DST
ExchangeRight has fully subscribed Net-Leased Portfolio 73 DST, a $90.67 million offering backed primarily by investment‑grade tenants operating in necessity-based industries. The Delaware statutory trust provides investors with monthly distributions at a current rate of 5.00%, supported by in-place lease revenue, and is now closed to new investors.
The portfolio comprises 11 long-term net-leased properties with a weighted-average lease term of 13.8 years at inception, spread across 10 markets in Colorado, Idaho, Kentucky, Wisconsin, New Jersey and New York. The assets are supported by $39.75 million in non-recourse debt at a 43.84% loan-to-value ratio and are tenanted by Tractor Supply Company, Hobby Lobby, Dollar General Market, BioLife Plasma Services and Dollar General, reflecting a focus on recession-resilient, everyday-use concepts.
Net-Leased Portfolio 73 DST is structured as part of ExchangeRight’s broader aggregation strategy, designed to be compatible with a potential future acquisition of its properties by Essential Income REIT. Investors are positioned with multiple strategic exit options, including a tax-deferred 721 exchange into Essential Income REIT, a traditional 1031 exchange, a cash-out, or a blend of these paths.
“Net-Leased Portfolio 73 is carefully composed to withstand market volatility by targeting investment-grade, necessity-based tenants with long-term net leases, benefitting our investors with multiple layers of risk mitigation,” said Joshua Ungerecht, managing partner at ExchangeRight.
The close extends the firm’s streak of fully subscribed offerings, following Essential Income 7 DST, Net-Leased All-Cash 18 DST and Net-Leased Portfolio 72 DST, and contributes to a vertically integrated platform that now oversees more than $7.5 billion in assets across over 1,400 properties and 30 million square feet in 47 states as of June 30, 2026.
