ExchangeRight Fully Subscribes 25-Property, $71 Million Net-Leased Portfolio
January 3, 2023 | ExchangeRight
ExchangeRight, one of the nation’s leading providers of diversified real estate DST and REIT investments, is pleased to announce that it has fully subscribed its Net-Leased Portfolio 58 DST, a $71,135,000 offering featuring 317,101 square feet of grocery, necessity-based retail, banking, and pharmacy tenants. The portfolio was structured to provide investors with monthly distributions starting at an annualized rate of 5.0 percent.
NLP 58 DST was launched with a 43.77 percent loan-to-value and non-recourse interest-only financing at a fixed rate of 5.293 percent over a 10-year term. The offering contains 25 properties in 25 markets diversified across 14 states and eight recession-resilient tenants including Dollar General, CVS Pharmacy, Aldi, Family Dollar, Huntington Bank, Hobby Lobby, Dollar Tree, and Walgreens.
“We are happy to have provided investors with the opportunity to invest in this ExchangeRight offering designed for recession resilience,” said Joshua Ungerecht, a managing partner at ExchangeRight. “The properties selected for this portfolio are tenanted by creditworthy businesses that remained open and operating during challenging economic environments, including throughout the COVID-19 pandemic. Given our defensive investment strategy, rigorous due diligence, and exceptional team, we have maintained 100 percent rent collection during these times, achieving 125 consecutive months of distributions that met or exceeded projections. We are honored by the trust that investors, representatives, and advisors continue to place in us and our net lease platform, which is designed to provide stable income, secure capital, and strategic exits.”
About ExchangeRight
ExchangeRight pursues its passion to empower people to be secure, free, and generous by providing REIT, fund, and 1031 DST portfolios that target secure capital, stable income, and strategic exits. The company strategically syndicates net-leased portfolios of assets backed primarily by investment-grade corporations that successfully operate in the necessity-based retail and healthcare industries, as well as diversified value-add portfolios of inline and outparcel retail properties shadow-anchored by strong-performing grocery tenants. Please visit www.exchangeright.com for more information.
Media Contact
Lindsey Thompson
Senior Media Relations Officer
Email: lthompson@exchangeright.com
Phone: (626) 773-3448
