ExchangeRight Fully Subscribes $111M Net-Leased Portfolio 68 DST
ExchangeRight announced that it has fully subscribed its $111.01 million Net-Leased Portfolio 68 DST offering, backed by a diverse slate of primarily investment-grade tenants operating in necessity-based sectors. The Delaware statutory trust (DST) offering is now closed to new investors and delivers monthly distributions at a 5.00% annualized rate, fully supported by in-place revenues.
The portfolio includes 16 properties across 16 markets in 10 states, totaling 546,966 square feet of retail space. Tenants include nationally recognized, recession-resilient brands such as FedEx, Dollar General, Tractor Supply, Dollar Tree, Sherwin-Williams, O’Reilly Auto Parts, and Dollar General Market. The properties carry a weighted-average remaining lease term of 15.1 years, offering investors durable cash flow and reduced lease rollover risk.
Net-Leased Portfolio 68 DST is structured to align with ExchangeRight’s long-term aggregation strategy, specifically designed to be compatible with a potential future acquisition by the firm’s Essential Income REIT. At the time of exit, investors may have the option to execute a tax-deferred 721 exchange into the REIT or opt for a traditional 1031 exchange, cash-out, or a combination of strategies, enhancing flexibility and liquidity.
“ExchangeRight’s aggregation strategy and REIT alignment are central to delivering long-term value for investors,” said Warren Thomas, managing partner at ExchangeRight. “This offering not only provides consistent monthly distributions, but also a potential path to enhanced diversification and liquidity within our Essential Income REIT in addition to other exit options.”
The firm’s momentum in 2025 has been notable, with a series of fully subscribed offerings including the $25.21 million Essential Income 1 DST, $23.38M Net-Leased All-Cash 8 DST, $28.49M All-Cash 10 DST, and $81.57M Net-Leased Portfolio 67 DST. Earlier in the year, the $23.26 million All-Cash 6 DST offering also reached full subscription. In December 2024, the firm completed its 34th full-cycle event with the Essential Income REIT acquiring a 23-property portfolio from Net-Leased Portfolio 28 DST.
As of June 30, 2025, Pasadena-based ExchangeRight and its affiliates oversee more than $6.6 billion in assets under management, comprising over 1,300 properties and 26 million square feet across 47 states.