ExchangeRight, a sponsor of Delaware statutory trust and non-traded real estate investment trust investment offerings, has fully subscribed its Net-Leased All-Cash 10 DST.
The $28.49 million portfolio of net-leased real estate is backed by primarily investment-grade companies operating in necessity retail and provides investors with monthly distributions at a current rate of 5.2% covered in full by in-place revenues from the offering.
Net-Leased All-Cash 10 DST features five properties tenanted by Tractor Supply, Dollar Tree, Hobby Lobby, and Dollar General Market. These properties are located across Texas and Arizona, and span a total of 124,641 square feet.
According to ExchangeRight, the Net-Leased All-Cash 10 DST exit strategy is designed to optimize value and liquidity options for investors while providing access to the company’s REIT platform. At exit, investors may have the opportunity to engage in a subsequent 1031 exchange, participate in a tax-deferred cash-out financing, exchange their DST interests for REIT partnership units via a 721 exchange, cash out on a non-tax-deferred basis, or a combination of these strategies.
The company stipulated, though, that there is no guarantee that the DST’s objectives, including its exit options and future financing, will be achieved.
“The successful subscription of the Net-Leased All-Cash 10 DST highlights investor trust in ExchangeRight’s disciplined approach to asset selection, which focuses on stability, income security, and strategic exit options for our investors,” said Warren Thomas, managing partner of ExchangeRight. “We remain committed to delivering on our mission to empower investors to be secure, free, and generous.”
Last month, ExchangeRight similarly announced that it had fully subscribed its five-property, Net-Leased All Cash 9 DST, along with its eight-property Net-Leased Portfolio 67 DST.
ExchangeRight and its affiliates’ vertically integrated platform features more than $6.4 billion in assets under management that are diversified across over 1,300 properties and 25 million square feet throughout 47 states, as of Feb. 28, 2025.
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