12-property net-leased portfolio
Net-leased retail — sponsored by ExchangeRight
Files with the SEC as ExchangeRight Net-Leased Portfolio 71 DST
Minimum investment
$100k
Offering size
$31.6M
How much has sold
None sold yet
Asset type
Net-leased retail
Location
Not stated
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
ExchangeRight Net-Leased Portfolio 71 DST is a Delaware statutory trust — a structure letting 1031 exchangers hold fractional real estate — owning long-term net-leased retail buildings in 12 markets across nine states.2 Tenants named by the sponsor include Aldi, Conviva, Natural Grocers, Dollar General Market and O'Reilly Auto Parts.2 ExchangeRight said on January 6, 2026 that the Trust was fully subscribed and no longer accepting new investors.2
$55.9M; 5.00% dist; WALT 10.9y; tenants: Aldi, Conviva, Natural Grocers, DG Market, O'Reilly Auto Parts
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These links support the public record as a whole; individual details may come from different sources.
Location not on recordThe SEC filings for this offering do not give a property address. The filing history below is the current public record.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
ExchangeRight assembled this Trust as a portfolio of long-term net-leased retail buildings sited in 12 separate markets across nine states.2 Individual street addresses, purchase prices, and acquisition dates appear neither in the Form D nor in any sponsor release located, so the geography is publicly known only at the market-and-state level. Physical details such as year built or site configuration are not in the public record.
- Property size
- 12 properties / 148,503 SF
Who is the tenant, and what's the lease?
The sponsor names Aldi, Conviva, Natural Grocers, Dollar General Market and O'Reilly Auto Parts as tenants, describes the leases as long-term and net — tenants, rather than the Trust, carry property-level operating costs — and put the weighted-average lease term at 10.9 years.2 Which tenant occupies which building is not public.
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
The sponsor reported this offering sold out without filing per-sale amendments, so there is no raise history to show.
How is it financed, and what does it pay?
The Form D classifies the offered security as equity, so the total it reports is the equity raise rather than the Trust's full capitalization.1 Whether mortgage debt sits beneath that equity is unresolved: no located record names a lender or states a loan amount, interest rate, or maturity date.
Who's behind it?
ExchangeRight is a repeat sponsor of numbered net-leased DST portfolios built around grocery, discount-retail and healthcare tenants, and it also operates the Essential Income REIT.2 In its January 6, 2026 announcement, the sponsor said this Trust was structured so it could later be aggregated into that REIT, with a possible tax-deferred 721 exchange — contributing property to a REIT's operating partnership in return for units — a 1031 exchange, a cash-out, or a combination, and stated those outcomes are not guaranteed.2
- Sponsor
- ExchangeRight
- Legal Trust name
- ExchangeRight Net-Leased Portfolio 71 DST
- May convert to a REIT
- Yes
- Offerings from this sponsor
- 23 active / 60 total offerings from ExchangeRight
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The record holds no amendments, so the filing snapshot predates the first sale and does not reflect the sponsor's later report that the Offering filled.1 The exemption relied on bars public advertising and limits sales to accredited investors — those meeting SEC income or net-worth tests — with whom the sponsor has a pre-existing relationship.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
Is 12-property net-leased portfolio still raising money?
Top1031 lists 12-property net-leased portfolio as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for 12-property net-leased portfolio?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Can I still invest in Net-Leased Portfolio 71 DST?
No. ExchangeRight announced on January 6, 2026 that the Trust was fully subscribed and closed, and that it was no longer accepting new investors. It is now a historical offering; the profile exists as a public record of what was offered.
Why does the SEC filing show no sales if the sponsor says it sold out?
The single Form D on record was filed July 28, 2025, and the issuer reported at that snapshot that the first sale had not yet occurred. No amendment was filed afterward, so the SEC record was never updated to reflect the sponsor's later full-subscription announcement.
Which tenants are in the portfolio?
ExchangeRight named Aldi, Conviva, Natural Grocers, Dollar General Market and O'Reilly Auto Parts. The release's wording indicates these are examples rather than the complete roster for all 12 properties, so the full tenant-to-property mapping has to come from the PPM.
How much debt does the Trust carry?
No public source resolves it. The Form D reports the offered security as equity and states no loan amount, loan-to-value ratio, interest rate, or maturity, and no other located record does either. The PPM and loan documents are the only place to settle this.
What was the minimum investment?
The Form D filed July 28, 2025 reported a $100,000 minimum investment.[1] Investors also had to be accredited, since the Trust was offered under Rule 506(b), the private-placement exemption that prohibits general solicitation.
What does the 721/UPREIT exit language mean here?
ExchangeRight said on January 6, 2026 that the Trust was designed for possible future aggregation into its Essential Income REIT, potentially via a tax-deferred 721 exchange — swapping the property for operating-partnership units — or a 1031 exchange, cash-out, or combination. The sponsor stated these outcomes are not guaranteed.
Chapter 9ExchangeRight Fully Subscribes $55.9M Net-Leased Portfolio 71 DST, Providing REIT Exit Optionality to InvestorsExchangeRight announced full subscription of Net-Leased Portfolio 71 DST, a $55.9M portfolio of 12 long-term net-leased properties spanning 12 markets across 9 states and 148,503 sq ft of retail space; tenants include Aldi, Conviva, Natural Grocers, Dollar General Market and O'Reilly Auto Parts; WALT 10.9 years; monthly distributions at 5.00% annualized.