Mountain Dell Reports More Than $714M in DST Sales to Start 2026

Delaware statutory trusts hit the ground running in 2026, maintaining the high-octane momentum of the previous year. With approximately $714.8 million in equity raised by the end of January, the sector is off to a considerable start – well on its way to meeting Mountain Dell Consulting President Taylor Garrett’s annual DST sales projection of $10 billion to $11 billion.

Garrett attributed this prediction to several factors. Speaking to AltsWire last month, he said increased participation by large banks, registered investment advisers and broker-dealers, as well as high-value deals, enhanced transactional volume, and friendlier interest rates all should play a role in supporting  steady sales for the foreseeable future.

Nevertheless, although it was a momentous start to 2026, the January fundraising was actually a 17.1% decrease from the  $862.2 million raised by DST sponsors in December 2025.

With approximately $137.9 million in total equity raised (19.3% of the market share), Ares Real Estate Exchange led DST sales for the month. According to Mountain Dell, other sponsors rounding out the top five and representing the highest percent of market share through January were:

• Blue Owl Real Estate Exchange with a year-to-date tally of approximately $91.06 million (12.7%);
• ExchangeRight Real Estate with a year-to-date tally of approximately $79.5 million (11.1%);
• Hines Real Estate Exchange with a total equity raise of approximately $52.5 million (7.35%); and
• Inland Private Capital Corporation, with a year-to-date tally of approximately $39.5 million (5.5%).

The largest programs launched during the month were concentrated in the industrial and self-storage sectors. Blue Owl Real Estate Exchange launched Blue Owl OREX V DST, a nearly $249.3 million industrial offering with assets in Kentucky, Michigan, and Ohio.

Additionally, Inland Private Capital Corporation launched Inland Self-Storage Portfolio XXII DST, which seeks to raise approximately $115.9 from accredited investors. The program includes properties in Florida, North Carolina, and Tennessee.

The $714.8 million raised in January 2026 represented a 13.3% increase from the $630.8 million raised in January 2025.

As of the end of January, 55 active sponsors were offering 92 programs, according to Mountain Dell. Multifamily and industrial were the most available equity assets by type at month’s end, comprising 51% and 22% of all syndicated offerings, respectively.

Located in the Salt Lake City region, Mountain Dell Consulting is a consulting and research firm focused on real estate-oriented investment programs. It has sourced and compiled data on the securitized 1031 exchange market since 2003.

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