ExchangeRight, a Pasadena, California-based provider of diversified 1031 DST and REIT investments, has announced the full subscription of Net-Leased Portfolio 73 DST, a $90.67 million offering backed primarily by investment-grade, necessity-based retail and service tenants. The offering is now closed to new investors and distributes monthly income at a current rate of 5%, covered by in-place lease revenue.
The portfolio consists of 11 net-leased properties spanning ten markets across Colorado, Idaho, Kentucky, Wisconsin, New Jersey, and New York, with a weighted-average lease term of 13.8 years at inception. The portfolio carries $39.75 million in non-recourse debt at a 43.84% loan-to-value ratio. Tenants include Tractor Supply Company, Hobby Lobby, Dollar General Market, BioLife Plasma Services, and Dollar General — national operators with historically recession-resistant business models.
The offering is structured with future liquidity pathways in mind. As part of ExchangeRight’s broader aggregation strategy, Net-Leased Portfolio 73 is designed to be compatible with a potential future acquisition by ExchangeRight’s Essential Income REIT. Investors will have the option to exit through a tax-deferred 721 exchange into the Essential Income REIT, a 1031 exchange into another qualifying property, a cash-out, or a combination of those options, though ExchangeRight notes there is no guarantee those exit strategies will be achieved.
ExchangeRight manages more than $7.5 billion in assets across more than 1,400 properties and 30 million square feet in 47 states as of June 30, 2026.
KEY QUOTE:
“Our latest Net-Leased Portfolio reflects our commitment to safeguarding investor capital while delivering stable, tax-advantaged income. Net-Leased Portfolio 73 is carefully composed to withstand market volatility by targeting investment-grade, necessity-based tenants with long-term net leases, benefitting our investors with multiple layers of risk mitigation.”
Joshua Ungerecht, Managing Partner, ExchangeRight
