ExchangeRight has fully subscribed its $81.11 million Net-Leased Portfolio 46 DST offering. The tenants selected for the offering satisfy the criteria for the company’s acquisition strategy, which targets properties occupied by national companies with strong financials and operations in necessity-based retail or healthcare services.
The offering’s 16 single-tenant, net-leased properties are 100 percent occupied by businesses that provide essential products and services, which allowed them to remain open in many cities and states where other businesses were forcibly closed due to the COVID-19 pandemic. These tenants include Publix, Fresenius Medical Care, CVS and Family Dollar.
Net-Leased Portfolio 46 DST is structured to generate stable monthly cash flow to investors, starting at an annualized rate of 6.15 percent. The offering launched on April 30 with 10-year, fixed-rate, interest-only financing at a 3.375 percent interest rate. The equity raise was completed on