Net Lease · TX, MI, OH, AR, NJ, GA

ExchangeRight Net-Leased Portfolio 75 DST

Name: ExchangeRight Net-Leased Portfolio 75 DST
Brand: ExchangeRight

Delaware Statutory Trust (DST) · 1031 exchange‑eligible · sponsored by ExchangeRight

Total Offering

$84,900,000

Equity Offering

$47,570,000

Debt

$37,330,000

Loan-to-Value

43.97% LTV

Minimum Investment

$100,000

Overview

A leveraged, diversified portfolio of six single-tenant net-leased properties (11.8-year WALT) acquired in early 2026 across six states, sponsored by ExchangeRight Real Estate, LLC. The portfolio spans retail, logistics, and healthcare necessity-based tenants: a FedEx distribution facility (303,596 SF, Little Rock AR, ~46% of NOI, to 2036), a Hobby Lobby (54,640 SF, East Hanover NJ, to 2036), a BioLife Plasma Services center (Takeda/Baxalta-guaranteed; Takeda S&P BBB+; Burleson TX, to 2039), two Dollar General stores (S&P BBB; Adrian MI and Strongsville OH, to 2041), and a Tractor Supply (S&P BBB; Villa Rica GA, to 2046). Five of the six tenants are investment-grade-rated. The properties were acquired for an aggregate $74.2M; total capitalization is $84,900,000 ($47,570,000 equity + $37,330,000 non-recourse debt; 43.97% LTV). Financing is a $37.33M Wells Fargo loan, 5.120% fixed, interest-only for a 5-year term (closed April 2026), non-recourse, prepayable without penalty in the final six months. Going-in cash flow is 5.00%, escalating to 5.62% by year 5 (~5.30% average); Year 1 DSCR is 2.32x. The exit is ExchangeRight's REIT aggregation: the Essential Income REIT is targeted to acquire the DST interests (with an optional Section 721 exchange, cash-out, or combination) around the 5-year loan maturity.

Investment highlights

Six single-tenant assets across six states, five industries, and five tenant brands, with five of six tenants investment-grade-rated (Takeda/BioLife BBB+, FedEx BBB, Dollar General BBB x2, Tractor Supply BBB; Hobby Lobby private), spanning retail, logistics, and healthcare necessity-based uses - a genuinely diversified footprint by geography and sector.
The 303,596 SF FedEx distribution facility in Little Rock AR is the largest asset at ~46% of NOI, a long-haul logistics box leased to an investment-grade credit through 2036 - a meaningful credit anchor that simultaneously concentrates nearly half of portfolio income in one tenant and one specialized asset.
An 11.8-year weighted-average lease term with staggered expirations (FedEx/Hobby Lobby 2036, BioLife 2039, Dollar General 2041, Tractor Supply 2046) underpins durable contractual income well beyond the 5-year loan/hold. Income growth is modest and contractual, lifting cash-on-cash from 5.00% to 5.62%.
A $37.33M Wells Fargo (unaffiliated lender) non-recourse loan at 43.97% LTV, fixed at 5.120% and interest-only for the 5-year term, generates positive leverage and a healthy 2.32x Year 1 DSCR. The full principal balloons at the 2031 maturity (a 5-year refinancing/exit wall), and a 1.40x DSCR cash-trap covenant could suspend distributions if NOI falls.
Total upfront load is ~9.36% of equity (7.12% selling/offering plus a 1.24% acquisition fee and a 1.00% reallowance), and the offering feeds ExchangeRight's Essential Income REIT, targeted to acquire the DST interests around the 5-year loan maturity via an optional Section 721 exchange, cash-out, or combination.

Sponsor

This offering is sponsored by ExchangeRight. Baker 1031 Investments is independent of the sponsor and provides advisory and brokerage services to accredited investors.

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Important disclosures

This material is for accredited investors only and is not an offer to sell or a solicitation of an offer to buy any security. Any offering of interests is made solely pursuant to the sponsor’s Private Placement Memorandum (PPM), which should be read in its entirety before investing. Securities offered through Aurora Securities, Inc., member FINRA/SIPC; Baker 1031 Investments is independent of Aurora Securities, Inc. Figures shown are sponsor-reported and have not been independently verified by Baker 1031; performance figures, where shown, are net of all fees, sales load, and program expenses, and reflect realized or sponsor-projected results that are not guaranteed. Past performance does not indicate future results. DST interests are illiquid, speculative, and involve risk of loss, including loss of principal. Individual tax results vary; consult your own tax and legal advisors. Minimum investment $50,000.

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