ExchangeRight, one of the nation’s leading providers of diversified real estate DST and REIT investments, has announced the full subscription of Net-Leased All-Cash 12 DST, reflecting strong demand for the company’s historically recession-resilient, diversified net-leased offerings that support the growing acquisition pipeline for ExchangeRight’s Essential Income REIT. The $41.4 million portfolio of net-leased real estate, backed by primarily investment-grade tenants operating in necessity-based industries, provides investors with monthly distributions at a current rate of 5.22% covered entirely by in-place revenues from the offering. Net-Leased All-Cash 12 DST is a closed offering and is not accepting new investors.
The offering consists of six long-term net-leased properties tenanted by St. Luke’s Health Network, Sherwin-Williams, Tractor Supply, and Dollar Tree, with an initial weighted-average lease term of 14.2 years. The portfolio’s properties span 111,781 square feet across Texas, Florida, Pennsylvania, and Georgia.
The Net-Leased All-Cash 12 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 intends to provide investors with the option to receive a tax-deferred lump sum payment of 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 Essential Income REIT. There is no guarantee that the DST’s objectives, including its exit strategies, will be achieved.
“The robust demand for our all-cash offerings continues to validate our investor-centric approach,” said Joshua Ungerecht, managing partner at ExchangeRight. “The full subscription of All-Cash 12 DST shows a clear investor and advisor preference for debt-free offerings that not only deliver stable income from primarily investment-grade tenants, but also provide strategic and tax-deferred exit optionality at the end of the term, including the potential 721 exchange into the Essential Income REIT.” The past performance of ExchangeRight does not guarantee future performance or exit optionality.
About ExchangeRight
ExchangeRight and its affiliates’ vertically integrated platform features more than $6.7 billion in assets under management that are diversified across over 1,300 properties, and 26 million square feet throughout 47 states, as of August 31, 2025. ExchangeRight pursues its passion to empower people to be secure, free, and generous through its Essential Income REIT and 1031 DST portfolios that target secure capital, stable income, and strategic exits, all of which have historically met or exceeded investor projections since ExchangeRight’s inception. On behalf of investors nationwide, the company structures and manages net-leased portfolios of assets backed primarily by investment-grade corporations that have successfully operated in the necessity-based retail and healthcare industries. Past performance does not guarantee future results. Please visit www.exchangeright.com for more information.
Media Contact
Lindsey Thompson
Senior Media Relations Officer
lthompson@exchangeright.com
