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Investors Fully Subscribe ExchangeRight’s $107 Million Net-Leased Portfolio 66 DST

By Mari Nicholson

Investors Fully Subscribe ExchangeRights 107 Million Net Leased Portfolio 66 DST

ExchangeRight, a sponsor of Delaware statutory trust and non-traded real estate investment trust investment offerings, announced that investors have fully subscribed the company’s Net-Leased Portfolio 66 DST, a $107 million offering featuring 507,017 square feet of national tenants operating in necessity-based industries.

The portfolio is structured to provide economically resilient monthly distributions with a current annualized rate of 5%. Net-Leased Portfolio 66 DST is a closed offering and is not accepting new investors.

The DST was launched in January 2024 with a 40.42% loan-to-value and non-recourse interest-only financing at a fixed rate of 6.14% over a five-year term. ExchangeRight said the offering contains 11 properties diversified across eight states and seven historically recession-resilient tenants, including FedEx, Hy-Vee, Stop & Shop, and Tractor Supply.

“We launched this offering to meet the ongoing demand for investment solutions designed to provide tax-advantaged passive income that is stable through all points of the macroeconomic cycle,” said Warren Thomas, a managing partner at ExchangeRight.

Last month, the company fully subscribed both its $82.3 million Net-Leased Portfolio 65 DST and $16.4 million ExchangeRight All-Cash 3 DST offerings.

“Like all offerings in our net lease platform, NLP 66 aims to protect investors’ hard-earned capital and income through a broadly diversified portfolio of net-leased properties with primarily investment-grade tenants operating in necessity-based industries,” added Thomas.

ExchangeRight reports that the company and its affiliates’ platform has more than $6.1 billion in assets under management that are diversified across more than 1,200 properties and over 25 million square feet across 47 states, as of Aug. 31, 2024. The company invests in net-leased properties in the “necessity-based” retail and healthcare industries, as well as value-add inline and outparcel retail spaces shadow-anchored by grocery tenants.

For more ExchangeRight news, please visit their directory page.