ExchangeRight Fully Subscribes $16.3M Florida, Texas All-Cash 3 DST Offering
ExchangeRight announced its All-Cash 3 DST has been fully subscribed. The $16.36 million offering has been structured to provide monthly investor distributions starting at an annualized rate of 5.15%, covered 100% by in-place revenues from the portfolio. The DST is a debt-free portfolio of net-leased real estate backed by investment-grade companies operating in “necessity-based” industries, the firm said.
The All-Cash 3 DST features properties, tenanted by Daybreak Market, Dollar General, and Dollar Tree, that span 26,511 square feet in Florida and Texas.
The offering’s exit plan seeks to provide a tax-deferred cash-out refinance option, as well as the possibility to perform a 1031 exchange, 721 exchange, cash out, or a combination of these options.
“Our commitment to protecting investors makes us distinctive in the 1031/DST marketplace,” said managing partner Warren Thomas. “Like all offerings in our net lease platform, All-Cash 3 DST is designed with conservative underwriting and a focus on long-term net-leased properties backed by historically recession-resilient tenants.”
ExchangeRight and its affiliates’ vertically integrated platform features over $6 billion in assets under management diversified across morethan 1,200 properties, and 24 million square feet throughout 47 states, as of July 31, 2024.