ExchangeRight Essential Income REIT NAV Climbs 13% on Real Estate Growth, Debt Refinancing
ExchangeRight Essential Income REIT’s net asset value rose to $905.7 million as of June 30, 2026, up from $801.8 million three months earlier – a roughly 13% increase – according to the company. NAV per share rose to $27.63 from $27.58 over the same period.
The nontraded real estate investment trust’s real estate holdings grew to $1.68 billion as of June 30, up from $1.5 billion at the end of the first quarter. As of March 31, 2026, the most recent period for which detailed portfolio data is available, the REIT owned 397 properties in 37 states, with the portfolio 98.1% leased across 40 tenants. Walgreens and Dollar General were the only tenants each contributing more than 10% of contractual base rent, at 17.8% and 15%, respectively.
Mortgage loans payable declined to $579.3 million as of June 30 from $602.6 million in the prior quarter. The REIT also reported a $266.8 million term loan on its books, drawn under an amended and restated credit agreement with Wells Fargo Bank that the company entered into on April 15, 2026. That agreement established a $200 million revolving credit facility and a delayed-draw term loan facility of up to $400 million, both expandable to a combined $1 billion, replacing the $157.4 million revolving credit facility the REIT had drawn as of the prior quarter.
ExchangeRight Essential Income REIT has raised $542 million to date in its continuous private offering of up to $2.165 billion in common shares, with $1.185 billion in remaining capacity, according to the company. The REIT declared a June 2026 distribution of $0.1449 per share, unchanged from the prior month, with 10.1% of distributions reinvested through the fund’s dividend reinvestment plan.
The REIT is part of ExchangeRight’s broader Delaware statutory trust and 1031 exchange platform. During the first quarter, the operating partnership acquired 39 properties across two portfolios – 16 properties for $68.4 million and 23 properties for $90.9 million – through merger agreements with DSTs previously managed by ExchangeRight on behalf of their investors.
Previously reported by AltsWire this month, ExchangeRight fully subscribed Net-Leased Portfolio 73 DST, a $90.67 million offering. The offering comprises 11 net-leased properties across 10 markets in Colorado, Idaho, Kentucky, Wisconsin, New Jersey, and New York, with a weighted-average lease term of 13.8 years at inception. Tenants include Tractor Supply Company, Hobby Lobby, and Dollar General Market, and the portfolio carries $39.75 million in non-recourse debt at a 43.84% loan-to-value ratio.
ExchangeRight Real Estate LLC, a California-based sponsor, and its affiliates reported more than $7.5 billion in assets under management diversified across more than 1,400 properties and 30 million square feet in 47 states as of the end of June, according to the company.
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