ExchangeRight has fully subscribed its $55.9 million Net-Leased Portfolio 71 DST, a tax-advantaged offering backed primarily by investment-grade companies operating in necessity-based industries. The Delaware statutory trust is delivering current monthly distributions at a 5.00% rate, fully covered by in-place revenues. Net-Leased Portfolio 71 DST is now closed and no longer accepting new investors.
The portfolio comprises 12 long-term net-leased properties with an initial weighted average lease term of 10.9 years. Tenants include historically recession-resilient brands such as Aldi, Conviva, Natural Grocers, Dollar General Market, and O’Reilly Auto Parts. In total, the assets span more than 148,000 square feet of retail space across 12 markets in nine states.
Net-Leased Portfolio 71 DST is structured with a future aggregation into ExchangeRight’s Essential Income REIT. At exit, investors may have the opportunity to participate in a tax-deferred 721 exchange into the REIT, alongside other strategic options including a traditional 1031 exchange, a cash-out, or a blend of these approaches.
“Our Net-Leased Portfolio platform is designed to benefit investors through every stage of the offering life cycle,” said Warren Thomas, managing partner at ExchangeRight. “Net-Leased Portfolio 71 DST not only provides investors consistent monthly income covered by in-place revenues, but is also structured with the opportunity to participate in a tax-deferred 721 exchange into the Essential Income REIT in addition to other potential exit options.”
The successful close of Net-Leased Portfolio 71 DST extends a string of fully subscribed offerings for ExchangeRight, including the $22.6 million Essential Income 3 DST; the $25 million All-Cash 15, $28.85 million Essential Income 4 DST, $23.3 million Net-Leased All-Cash 14 DST, $41.4 million All-Cash 12, $62 million Portfolio 69, $111 million Portfolio 68, among others.
Pasadena-based ExchangeRight now oversees more than $7 billion in assets under management, spanning over 1,400 properties and 27 million square feet across 48 states, supported by its vertically integrated real estate platform.
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