Net Lease Investors Fully Subscribe an ExchangeRight $86 Million Offering
ExchangeRight has fully subscribed its $86.38 million Net-Leased Portfolio 48 DST offering, which is designed to generate investor distributions from over 287,000 square feet of net-leased property. The necessity-based retail, banking, and healthcare tenants selected for the offering satisfy ExchangeRight's disciplined acquisition criteria, which targets net-leased properties backed primarily by investment-grade tenants operating essential businesses.
The portfolio's 21 single-tenant net-leased properties are fully occupied by CVS, Dollar General, Dollar Tree, First Midwest Bank, Food 4 Less, Fresenius Medical Care, Memorial Health System, Sherwin Williams, Verizon, and Walgreens. The properties are diversified across 11 states, including Georgia, Illinois, and Louisiana.
Net-Leased Portfolio 48 DST is structured to generate stable monthly cash flow to investors, starting at an annualized rate of 6.11%. The offering launched on June 30, 2021, with 10-year fixed-rate interest-only financing at a 3.165% interest rate, was substantially completed in early September, and had the last investor closing as of October 1, 2021.
"We are proud to continue to serve investors' immediate and long-term needs with our latest offering," said Warren Thomas, a managing partner of ExchangeRight. "Interest in our offerings remains high, and our teams are committed to bringing new diversified portfolios to the market that are designed to preserve investor capital, generate stable income, and provide access to ExchangeRight's aggregated exit strategy."
ExchangeRight and its affiliates' vertically integrated platform features over $4.1 billion in assets under management, diversified across more than 950 properties, over 17 million square feet, and throughout 40 states. More than 5,700 investors have trusted ExchangeRight to manage their capital. All of the company's current and past offerings have met or exceeded targeted cash flow distributions to investors since the company's founding.
About ExchangeRight
ExchangeRight pursues its passion to empower people to be secure, free, and generous by providing REIT, fund, and 1031 DST portfolios that target secure capital, stable income, and strategic exits. The company strategically syndicates net-leased portfolios of assets backed primarily by investment-grade corporations that successfully operate in the necessity-based retail and healthcare industries, as well as diversified value-add portfolios of inline and outparcel retail spaces shadow-anchored by strong-performing grocery tenants. Please visit www.exchangeright.com for more information.
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