ExchangeRight Fully Subscribes $52.78 Million Debt-Free All-Cash 18 DST

ExchangeRight has fully subscribed Net-Leased All-Cash 18 DST, a $52.78 million debt-free offering of net-leased real estate designed for 1031 exchange and direct cash investors.

The unleveraged offering closed with a 5.15% current annualized distribution rate covered entirely by in-place lease revenue. The portfolio totals 110,430 square feet across five states – Florida, Texas, Alabama, Michigan, and Georgia – with an initial weighted-average lease term of 12 years. Tenants include BioLife Plasma Services and Tractor Supply Company, with six properties leased to those two tenants, which ExchangeRight characterizes as operating in necessity-based, recession-resilient industries.

The offering is backed by a 20-year master lease guaranteed by the Essential Income REIT’s Operating Partnership. At exit, ExchangeRight intends – pending successful financing – to provide investors a tax-deferred cash-out financing option covering 20% or more of their initial investment, with the remaining approximately 80% eligible for a tax-deferred 721 exchange into the Essential Income REIT. Investors may also elect a 1031 exchange, a cash-out, or a combination of options.

The All-Cash 18 DST close follows ExchangeRight’s full subscription of Net-Leased Portfolio 72 DST, a $58.6 million leveraged offering that closed earlier this month.

ExchangeRight reported more than $7.4 billion in assets under management as of May 31, 2026, diversified across more than 1,400 properties and 28 million square feet in 47 states.

AltsWire has previously covered ExchangeRight’s Net-Leased All-Cash 15 DST and Net-Leased All-Cash 13 DST closes, both of which carried similar unleveraged structures and necessity-based tenant rosters.

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