ExchangeRight Extends Run of Fully Funded DSTs With $52.8M Close
ExchangeRight has fully subscribed its $52.78 million Net-Leased All-Cash 18 DST, extending the Pasadena-based firm’s streak of fully funded Delaware statutory trust offerings aimed at 1031 exchange and cash investors.
The debt-free offering was structured to provide stable monthly distributions with a current annualized rate of 5.15%, fully supported by existing lease revenue. The portfolio consists of six net-leased properties occupied by necessity-based tenants, including BioLife Plasma Services and Tractor Supply Company, with an initial weighted-average lease term of 12 years.
The properties span 110,430 square feet across Florida, Texas, Alabama, Michigan and Georgia. The offering is backed by a 20-year master lease guaranteed by the operating partnership of ExchangeRight’s Essential Income REIT.
At exit, investors will have multiple liquidity options, including the potential for a tax-deferred cash-out financing, a 1031 exchange, a 721 exchange into Essential Income REIT, or a combination of those alternatives.
Pending future financing, ExchangeRight said it intends to offer investors a tax-deferred lump-sum payment of 20% or more of their initial investment through cash-out financing, while allowing the remaining equity to be exchanged into the REIT on a tax-deferred basis.
“Net-Leased All-Cash 18 DST was structured for 1031 exchange investors who continue to want debt-free access to diversified portfolios of recession-resilient, necessity-based real estate that can provide greater return stability,” said Warren Thomas, managing partner at ExchangeRight.
The close follows the recent full subscription of ExchangeRight’s $58.6 million Net-Leased Portfolio 72 DST.
As of March 31, 2026, the firm’s vertically integrated platform managed more than $7.4 billion in assets across over 1,400 properties totaling 28 million square feet in 47 states.
