ExchangeRight Fully Subscribes $26.95 Million Net-Leased All-Cash 19 DST

ExchangeRight has fully subscribed its $26.95 million Net-Leased All-Cash 19 DST, a debt-free Delaware statutory trust offering of net-leased real estate designed for 1031 exchange and cash investors. The offering is closed and no longer accepting new investors.

According to the company, the offering is designed to provide investors monthly distributions, currently at an annualized rate of 5.15%, which is covered entirely by in-place lease revenue. The unleveraged portfolio consists of three net-leased properties tenanted by Fred Meyer, Hobby Lobby, and Verizon, totaling 122,149 square feet across Washington, Alabama, and Illinois, with an initial weighted-average lease term of 10.7 years.

The offering is backed by a 20-year master lease guaranteed by ExchangeRight’s Essential Income REIT, which the company describes as a more than $1.7 billion diversified portfolio of net-leased industrial, necessity retail, and healthcare properties backed primarily by recession-resilient and investment-grade credit tenants.

At exit, the offering is structured to provide investors a tax-deferred cash-out financing option, along with the potential to complete a 1031 exchange, a 721 exchange into the Essential Income REIT, a cash-out, or a combination of those options. Pending successful financing, the company said it intends to offer investors a tax-deferred lump sum targeting 20% of their initial investment through cash-out financing, paired with a tax-deferred 721 exchange of the remaining roughly 80% of non-financed equity into the REIT.

ExchangeRight said there is no guarantee the offering’s objectives, including its exit strategies, will be achieved.

“All-Cash 19 DST reflects continued investor demand for debt-free access to necessity-based real estate that has historically remained resilient through economic downturns,” said Joshua Ungerecht, managing partner at ExchangeRight. “The offering’s 20-year master lease from the Essential Income REIT’s operating partnership provides investors an added layer of income security that complements the stability of the portfolio’s net-leased real estate and the strength of its tenants.”

The All-Cash 19 DST close follows ExchangeRight’s full subscription of Net-Leased All-Cash 18 DST, a $52.78 million debt-free offering that closed in June.

ExchangeRight and its affiliates’ vertically integrated platform features more than $7.7 billion in assets under management, diversified across more than 1,400 properties and 30 million square feet throughout 47 states, as of July 31, 2026, according to the company.

AltsWire has previously covered ExchangeRight’s Net-Leased All-Cash 17 DST close, a similarly unleveraged, necessity-based offering that closed in April.

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