ExchangeRight Net-Leased Portfolio 75 DST

Investment Overview

ExchangeRight Net-Leased Portfolio 75 is a diversified real estate offering composed of properties leased to national tenants in necessity-based, historically recession-resilient industries, delivering a 5.00% current cash flow from in-place lease revenue.

The portfolio is structured around capital preservation, stable monthly income, and ongoing tax deferral for investors. Its exit strategy leverages ExchangeRight's REIT platform and aggregation approach, with the REIT acquiring DST interests through a Section 721 tax-deferred exchange. Beyond this primary path, individual owners can choose among four exit options: a Section 721 Exchange into the Essential Income REIT, a Section 1031 Exchange, a cash-out (non-tax-deferred), or any combination of these.

By aggregating assets across multiple properties, locations, tenants, industries, lease terms, and debt terms, the portfolio is designed to offer investors broad diversification alongside the income stability of net-leased real estate.

Investment Highlights

• Investment-grade tenant roster anchored by recession-resilient operators. Four of the five tenants (FedEx, BioLife/Takeda, Dollar General, and Tractor Supply) carry S&P investment-grade ratings of BBB or better, with BioLife's lease guaranteed by Takeda Pharmaceutical (BBB+). The portfolio is concentrated in necessity-based retail and healthcare industries that have historically weathered economic downturns.

• Long-duration income with conservative leverage. The portfolio offers a 5.00% current cash flow distribution alongside an 11.8-year weighted-average lease term, with lease expirations laddered out to 2046. The 43.97% offering loan-to-value provides a meaningful equity cushion, and the $37.33 million in non-recourse debt limits investor exposure beyond their invested capital.

• Concentrated but strategically weighted tenant mix. While the offering touts diversification across six properties, six markets, six states, and five industries, roughly 68% of net operating income comes from just two tenants (FedEx at 46.44% and Hobby Lobby at 21.36%). Notably, Hobby Lobby is the only non-rated tenant, though it is a top-100 private company with $8 billion in annual revenue.

• Flexible, REIT-backed exit strategy with tax-deferral optionality. The intended exit involves ExchangeRight's Essential Income REIT acquiring the DST interests via a Section 721 exchange, with investors also having the option of a 1031 exchange, a taxable cash-out, or a combination. This optionality is valuable for estate and tax planning, but the disclosures are clear that a 721 conversion forecloses future 1031 eligibility, and none of the exit pathways are guaranteed.

• Backed by a vertically integrated sponsor with a full-cycle track record. ExchangeRight stewards $7.2+ billion in AUM across 1,400+ properties, 96 tenants, and 47 states, with 100% of past offerings meeting or exceeding cash flow projections and an 8.49% average annual total return across 36 full-cycle offerings. That said, the offering is restricted to accredited investors, requires a $100,000 minimum, and carries the standard real estate risks (illiquidity, interest rate exposure, potential principal loss) that the disclosures emphasize.

Quick Facts

Contact