DST Fundraising Reaches $731.4M in June, YTD Pace Up 22% to $4.5B

Delaware statutory trust equity fundraising totaled approximately $4.5 billion through June 2026, a 22% increase from the roughly $3.68 billion raised through the same period in 2025, according to Mountain Dell Consulting.

DST sales for the month totaled $731.4 million, a nearly 5.5% increase from May’s $693.4 million. Mountain Dell projects that DST sales could reach $10 billion to $11 billion by year-end.

With approximately $959.9 million in total equity raised (21.3% of market share), Ares Real Estate Exchange continues to lead DST sales for the year. Hines Real Estate Exchange is the second largest fundraiser, having raised approximately $485.5 million (10.8% of market share). According to Mountain Dell, other sponsors rounding out the top five by market share through June were:

• Blue Owl Real Estate Exchange, at approximately $369.65 million, or 8.2% of the market;
• ExchangeRight Real Estate, which raised approximately $322.9 million for a 7.2% share; and
• Inland Private Capital Corporation with approximately $247.6 million and a 5.5% share.

ExchangeRight Real Estate launched the largest offering of the month with ER Essential Income 12 DST, seeking to raise approximately $123.5 million for an industrial asset in Missouri. Apollo Real Estate Exchange launched an $89.5 million retail portfolio during the month; AX Diversified Retail Portfolio DST spans five locations: Alabama, Florida, Indiana, Mississippi, and Texas.

As of the end of May, 59 active sponsors were offering 104 programs, according to Mountain Dell. Industrial and multifamily were the most available equity assets by type at month’s end, each comprising 32% of all syndicated offerings.

Located in the Salt Lake City region, Mountain Dell Consulting is a consulting and research firm focused on real estate-oriented investment programs. It has sourced and compiled data on the securitized 1031 exchange market since 2003.

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