ExchangeRight, a Pasadena, CA-based provider of diversified real estate DST and REIT investments, said Monday that its Net-Leased All-Cash 9 DST was fully subscribed. The $24.78-million portfolio of net-leased real estate, backed by primarily investment-grade companies operating in necessity retail, provides investors with monthly distributions at a current rate of 5.20%.

Net-Leased All-Cash 9 DST features five net-leased properties tenanted by Tractor Supply, Dollar Tree, and Dollar General Market. The portfolio’s properties span 75,148 square feet and are located in Texas, Iowa and Florida.

“Our commitment to capital preservation and stable income through a debt-free option for necessity-based investments continues to resonate with investors nationwide,” said Joshua Ungerecht, managing partner at ExchangeRight. “We are grateful for the continued trust and support from our investors, and we remain dedicated to serving them by designing our offerings to provide multiple strategic exit options designed to meet their potential future tax-advantaged 1031, 721 or liquidity needs.”

Pasadena-based ExchangeRight acquired 13 net-leased properties for an undisclosed sum as part of a sale-leaseback transaction with Tractor Supply. The properties collectively span more than 425,000 square feet across Arizona, Florida, Georgia, Indiana, Maryland, Ohio, Pennsylvania, South Carolina and Texas. ExchangeRight has now expanded its portfolio of assets net leased to Tractor Supply to more than 100 properties.

“Tractor Supply provides essential goods and has a strong BBB investment-grade credit rating from S&P, which are the kinds of stable qualities we look for in all tenants of our diversified net-leased offerings,” said David Fisher, a managing partner at ExchangeRight. “Their consistent performance helps us meet the needs of our investors, and we are grateful to have them as one of the top tenants across our portfolio.” 

 JRW Realty advised ExchangeRight on the transaction. Berkeley Capital Advisors represented the seller.

“Our client has maintained a relationship with Tractor Supply for more than a decade,” said Melinda Marston, president of JRW Realty.

Pasadena-based ExchangeRight, one of the nation’s leading providers of diversified real estate DST and REIT investments, said investors have fully subscribed its Net-Leased Portfolio 65 DST, an $82.28-million offering featuring 416,735 square feet of national tenants in necessity-based industries. The portfolio is structured to provide monthly distributions with a current annualized rate of 5.00%.

The DST contains 13 properties diversified across 10 states and five historically recession-resilient tenants, including FedEx, Tractor Supply, Dollar General, Dollar Tree and Family Dollar. The offering was launched with a 40.23% loan-to-value and non-recourse interest-only financing at a fixed rate of 5.82% over a 5-year term.

“We remain committed to working with representatives and advisors to provide offerings that are structured to preserve their clients’ capital and provide stable, passive income, even through economic volatility,” said Joshua Ungerecht, a managing partner at ExchangeRight. “As increasingly more investors are transitioning from active to passive real estate investments, we are pleased to help meet that need with a 1031-compatible offering designed to protect investors.”