ExchangeRight Fully Subscribes $81.5M Net Lease DST Offering
ExchangeRight has fully subscribed its $81.57 million Net-Leased Portfolio 67 DST for 371,430 square feet of necessity-based real estate. The offering includes properties leased to national tenants in recession-resistant sectors. It’s structured to pay monthly distributions at a 5.00% annualized rate. The DST is closed and not accepting new investors.
The DST was launched with a 41.10% loan-to-value and non-recourse interest-only financing at a fixed rate over a five-year term. The offering contains eight properties across five states and seven “historically recession-resilient tenants,” including FedEx, Tractor Supply, BJC HealthCare, Metro Market, Bank of America, and Dollar Tree.
“Our net lease strategy ensures that tenants cover the costs of property taxes, insurance, utilities, and all operating costs in addition to their monthly rent payments,” said Warren Thomas, managing partner at ExchangeRight. “This has helped us consistently protect investors from rising costs and provide them with steady monthly income at rates that have met or exceeded projections since our inception.”
In February, the firm announced that its $23.26 million All-Cash 6 DST offering had been fully subscribed. In December, the company announced the completion of its 34th full-cycle event with the acquisition of Net-Leased Portfolio 28 DST’s 23-property portfolio by the company’s Essential Income REIT.
In November, the company announced it fully subscribed its $18.33 million All-Cash 5 DST offering. In September, it announced it fully subscribed its $22.9 million All-Cash 4 DST offering. That same month, the company announced that its $107 million Net-Leased Portfolio 66 DST was fully subscribed.
Pasadena-based ExchangeRight and its affiliates’ vertically integrated platform features over $6.4 billion in assets under management across more than 1,300 properties, and 25 million square feet throughout 47 states.
