ExchangeRight Fully Subscribes $107M Net-Leased DST Offering 

ExchangeRight, a provider of real estate DST and REIT investments, announced that the company’s $107 million Net-Leased Portfolio 66 DST has been fully subscribed.  

The DST features over 507,017 square feet of national tenants operating in necessity-based industries. The portfolio provides monthly distributions at a current annualized rate of 5.00%. The offering is closed and is not accepting new investors. 

The DST was launched with a 40.42% loan-to-value and non-recourse interest-only financing at a fixed rate of 6.14% over a 5-year term. The offering contains 11 properties across eight states and seven “historically recession-resilient tenants”, according to ExchangeRight, including FedEx, Hy-Vee, Stop & Shop, and Tractor Supply. 

“Like all offerings in our net lease platform, NLP 66 aims to protect investors’ hard-earned capital and income through a broadly diversified portfolio of net-leased properties with primarily investment-grade tenants operating in necessity-based industries,” said Warren Thomas, a managing partner at ExchangeRight. 

Last month, the company announced it fully subscribed both its Net-Leased Portfolio 65 DST, an $82.3 million offering, and its All-Cash 3 DST, a $16.36 million offering.  

ExchangeRight and its affiliates’ vertically integrated platform features over $6.1 billion in assets across more than 1,200 properties, and 25 million square feet throughout 47 states, as of August 31, 2024.