ExchangeRight Fully Subscribes $90.67M Net-Leased Portfolio 73 DST

ExchangeRight has fully subscribed Net-Leased Portfolio 73 DST, a $90.67 million Delaware statutory trust offering, the sponsor said.

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, Dollar General Market, BioLife Plasma Services, and Dollar General. The portfolio carries $39.75 million in non-recourse debt at a 43.84% loan-to-value ratio.

Investors are receiving monthly distributions at a current rate of 5%, which ExchangeRight said is covered by in-place lease revenue from the offering.

Portfolio 73 is the latest in ExchangeRight’s numbered series of net-leased DST offerings, a format AltsWire has tracked across the sponsor’s prior closings as part of its broader aggregation strategy. As with earlier entries in the series, the offering is structured to be compatible with a potential future acquisition of its properties by ExchangeRight’s Essential Income REIT, according to the company. That structure is designed to give investors exit options including a tax-deferred 721 exchange into the REIT, a 1031 exchange, a cash-out, or a combination of the three.

“Our latest Net-Leased Portfolio reflects our commitment to safeguarding investor capital while delivering stable, tax-advantaged income,” said Joshua Ungerecht, managing partner at ExchangeRight. “Net-Leased Portfolio 73 is carefully composed to withstand market volatility by targeting investment-grade, necessity-based tenants with long-term net leases, benefitting our investors with multiple layers of risk mitigation.”

Earlier this month, the company fully subscribed Essential Income 7 DST, a $38.95 million portfolio of five net-leased properties, providing a current cash flow rate of 5.5%.

ExchangeRight and its affiliates report 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 June 30, 2026, according to the company. The sponsor structures and manages REIT, fund, and 1031 DST portfolios backed primarily by investment-grade corporations operating in the industrial, necessity retail, and healthcare industries.

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