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ExchangeRight Fully Subscribes $132M Net-Leased Portfolio
Pasadena, CA-based ExchangeRight, a provider of diversified real estate DST and REIT investments, has fully subscribed its $132 million Net-Leased Portfolio 56 DST, which features over 640,000 square feet of grocery, necessity-based retail, banking and healthcare tenants. The offering launched with an LTV of 44.95% and non-recourse interest-only financing at a fixed rate of 5.368% over 10-years.
NLP 56 DST contains 33 net-leased properties across 19 states, with 12 distinct tenants, including Wood Supermarket, Family Dollar, Scheels All Sports and nine CVS Pharmacy locations providing 28% of the offering’s net operating income. The properties are 100% occupied and operating.
“We are honored by the trust that investors, representatives and advisors continue to place in us for investors’ wealth management and retirement needs. This offering is designed for economic resilience and aims to serve investors with dependable monthly income regardless of market forces,” said ExchangeRight managing partner Warren Thomas.
- ◦Lease
