PASADENA, Calif. - ExchangeRight has fully subscribed its all-equity $23.77 million Net-Leased Portfolio 44 DST offering. The tenants included in the portfolio follow ExchangeRight’s strict acquisition criteria focused on national companies that provide necessity-based essential retail and medical services. The portfolio's five single-tenant-net-leased properties are 100% occupied by Dollar General, Natural Grocers, and Walgreens. All of the tenants in the offering remained open and operating to serve the public throughout the COVID-19 crisis.
Net-Leased Portfolio 44 DST is structured to generate stable monthly cash flow starting at 5.12% annualized in year one of ownership. The offering launched on February 17 and the equity raise was completed on June 2.
“This all-cash offering served a demand we had seen from investors looking for investments without financing,” said Warren Thomas, a managing partner of ExchangeRight. “We believe the targeted cash-on-cash returns of this portfolio are very attractive in the current marketplace, and especially so considering the quality of the national tenants backed by long-term leases.”
ExchangeRight and its affiliates' vertically integrated platform features over $3.6 billion in assets under management, diversified across more than 825 properties, over 14 million square feet, and throughout 40 states. More than 5,200 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.
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 acquires and manages long-term, net-leased assets backed primarily by investment-grade corporations that successfully operate essential businesses in the necessity-based retail and healthcare industries. Please visit www.exchangeright.com for more information.