ExchangeRight’s Net-Leased All-Cash 16 DST Fully Subscribed at $46.1 Million

ExchangeRight, a sponsor of Delaware statutory trust and non-traded real estate investment trust offerings, has fully subscribed Net-Leased All-Cash 16 DST, which provides 1031 exchange and cash investors with a $46.1 million portfolio of diversified net-leased real estate.

According to the company, the offering is designed to provide investors with stable monthly distributions, currently at an annualized rate of 5.08%, which is covered entirely by in-place lease revenue.

“The full subscription of Net-Leased All-Cash 16 DST highlights the strong demand for unleveraged and diversified, net-leased real estate offerings that are designed to provide capital preservation, stable income, and strategic exits,” said Warren Thomas, managing partner at ExchangeRight.

The portfolio consists of four long-term net-leased properties tenanted by Hy-Vee Grocery, Sprouts Farmers Market, Tractor Supply Company, and Dollar General Market. The properties total 151,226 square feet across four states — Florida, Louisiana, Minnesota, and Vermont — with an initial weighted-average lease term of 18.2 years.

The Net-Leased All-Cash 16 DST exit strategy is structured to provide investors with a tax-deferred cash-out financing option, along with the potential to complete a 1031 exchange, a 721 exchange into the Essential Income REIT, cash out, or any combination of these options at exit.

Pending successful future financing, the company said it intends to provide investors with the option to receive a tax-deferred lump sum payment of more than 20%of their initial investment through a cash-out financing, and a tax-deferred 721 exchange of the approximately 80% non-financed equity into the ExchangeRight Essential Income REIT. The non-traded REIT recently reported a tax-equivalent yield of 10.42% on 2025 distributions.

“This series is structured to serve the current needs of 1031 exchange investors while providing an on-ramp to our Essential Income REIT through the tax-deferred 721 exchange option. Our focus remains on stewarding our investors’ wealth through recession-resilient assets that have historically performed throughout all phases of the economic cycle,” added Thomas.

ExchangeRight and its affiliates managed more than $7.2 billion in assets, diversified across more than 1,400 properties and 28 million square feet in 47 states, as of Feb. 28, 2026.

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