PASADENA, Calif. - ExchangeRight has fully subscribed its $33.64 million Net-Leased Portfolio 33 DST offering, an all equity offering. The portfolio opened on March 24 and is designed to generate stable income and protect capital by focusing exclusively on investment-grade quality tenants operating essential businesses in the necessity-based retail and healthcare industries.
Net-Leased Portfolio 33 is 100% occupied by Dollar General, Walgreens, and Tractor Supply and is diversified nationally with a weighted-average lease term of 13.1 years. The offering spans 11 single-tenant properties in Alabama, Illinois, Louisiana, Ohio, and Texas. The portfolio is designed for investors seeking to participate in a 1031 tax-deferred exchange as well as investors seeking diversified portfolios of net-leased real estate on a cash basis. ExchangeRight’s current cash flow to investors is 5.15% with annual targeted increases given the portfolio’s leases that have contractual rent increases.
“We are pleased to be able to provide an all cash offering so that we can continue to provide recession-resilient investments to investors in the midst of the COVID-19 crisis,” said Warren Thomas, a managing partner of ExchangeRight. “The demand for our secure and stable net-leased portfolios remains high in light of the present economic volatility, and we are pleased we have been able to serve the needs of the investors and advisors that entrust us with their wealth.”
ExchangeRight and its affiliates’ vertically integrated platform is diversified across more than 675 properties of over 14 million square feet located throughout 38 different states. More than 3,200 investors have trusted ExchangeRight to manage their capital. All 51 of the company's current and past offerings have met or exceeded targeted cash flow distributions to investors since the company’s founding in 2012.
ExchangeRight is a vertically integrated real estate investment firm with over $2.6 billion in assets under management. ExchangeRight pursues its mission to empower people to be secure, free, and generous by providing income funds and 1031-exchangeable investment offerings that target secure capital, stable income, and strategic exits. The company strategically acquires and manages long-term, net-leased assets backed by investment-grade corporations that operate essential businesses successfully in the necessity-based retail and healthcare industries. For more information, visit www.exchangeright.com.