ExchangeRight has fully subscribed its $179 million Net-Leased Portfolio 54 DST, its largest offering to date.
The portfolio features 513,944 square feet of net-leased property tenanted by grocery, discount retail, medical, banking and pharmacy businesses and is structured to generate investor distributions starting at an annualized rate of 5.50 percent.
Net-Leased Portfolio 54 features 36 net-leased properties diversified across 21 states from Arizona to Maine and across 14 tenants including Market 32, CVS, Dollar General, Walgreens, Tractor Supply and Family Dollar. The offering launched with a loan-to-value of 49.09 percent and non-recourse interest-only financing at a fixed rate of 3.50 percent amortized over a 10-year term.
“With this portfolio, we are pleased to add a diverse group of new companies to the expanding list of recession-resilient tenants of ExchangeRight’s assets under management,” said Joshua Ungerecht, a managing partner at ExchangeRig