ExchangeRight Fully Subscribes $119 Million Net-Leased DST Offering in Two Months

ExchangeRight has fully subscribed its $119 million Net-Leased Portfolio 32 DST offering only two months after its February launch, marking the company’s most accelerated capital raise to date. The portfolio is designed to generate stable income and protect capital by focusing on investment-grade quality tenants in the necessity-based retail and healthcare industries. Portfolio tenants include CVS, Walgreens, Dollar General, and BioLife Plasma Services.

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Tenants of ExchangeRight's Net-Leased Portfolio 32 (Photo: Business Wire)

Net-Leased Portfolio 32 closed with 10-year interest-only, non-recourse financing with a stated annual rate of 3.45% and a weighted-average lease term of 12 years. The offering is strategically diversified across 26 markets, 6 recession-resilient industries, and 27 properties across 12 states, including Arizona, Florida, Georgia, Michigan, and Texas.

“Due to the incredible demand for our recession-resilient offerings, we were able to fully subscribe Net-Leased Portfolio 32 in just two months,” said Warren Thomas, a managing partner of ExchangeRight. “Despite the economic downturn and volatility caused by the COVID-19 pandemic, several of the investment-grade tenants in our portfolios are experiencing record-breaking demand for their essential goods and services. We have met or exceeded our targeted distributions to investors on all of our offerings since founding in 2012, and we remain committed to producing offerings that are strategically designed to provide income and secure capital even in times of economic uncertainty.”

Net-Leased Portfolio 32 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 6.65% with annual targeted increases given the portfolio’s leases that have contractual rent increases.

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 3,100 investors have trusted ExchangeRight to manage their capital. All 50 of the company’s current and past offerings have met or exceeded targeted cash flow distributions to investors.

About ExchangeRight Real Estate, LLC

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 successfully in the necessity-based retail and healthcare industries. For more information, visit www.exchangeright.com.

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