15-property net-leased portfolio
Net-leased retail property · sponsored by ExchangeRight
15-property net-leased portfolio was a DST sponsored by ExchangeRight that owned 15 net-leased retail properties. Its last Form D was filed May 30, 2025.
How it ended
No outcome recorded · under 7 years
The record lists the offering as fully subscribed; the last Form D was filed May 30, 2025.
Key facts
- Minimum investment
- $100,000From the Form D
- Offering size
- $35,490,000Equity offered, per the Form D
- Sold
- 2.1%Form D, May 30, 2025; the % is our arithmetic
- Investors reported
- Form D, May 30, 20254
- Selling commissions
- Form D Item 15; the % is our arithmetic$2,129,400 · 6.0% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.How it is financed ↓
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
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Ask a 1031 specialist about this recordFree. About: 15-property net-leased portfolio. Top1031 is not a broker-dealer.15-property net-leased portfolio · Photo: cdn-static.exchangeright.com
What did the Trust own?
The Trust holds net-leased retail buildings that ExchangeRight assembled across 14 markets in 11 states. 2 The sponsor put the portfolio's aggregate value at $65.89 million in its December 16, 2025 announcement. 2
- Property size
- 15 properties / 198,723 SF
Tenant and lease terms are not in the SEC filings or cited sources.
How was it financed, and what did it cost to sell?
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $2,129,400 · 6.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Lighthouse Capital Group, LLC · CRD 169135
Individual representatives named in Item 12 are not listed.
- Date of first sale
- May 14, 2025
- Minimum investment
- $100,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together.
Who's behind the Trust?
ExchangeRight sponsors a long-running, sequentially numbered series of net-leased DST portfolios; this Trust carries number 70 in that series. On December 16, 2025 the sponsor announced that Portfolio 70 was fully subscribed and no longer accepting investors, describing the portfolio as strengthening the acquisition pipeline of its affiliated Essential Income REIT. 2 Public materials treat any future REIT, 1031 or 721 outcome as a sponsor-described option rather than a completed transaction. 2
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust's Form D — the short notice an issuer files with the SEC when selling securities privately — reported a first sale on May 14, 2025, and an amendment restating the same offering figures followed. 1 Interests were offered privately, without public advertising, to accredited investors meeting SEC income or net-worth tests.
- Legal Trust name
- ExchangeRight Net-Leased Portfolio 70 DST
- SEC CIK
- 2070914
- First Form D
- May 30, 2025
- Latest Form D
- May 30, 2025
- Filings on record
- 2
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $35,490,000 | $776,301 | 4 | EDGAR | |
| Form D | $35,490,000 | $776,301 | 4 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
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.
Common questions
- What happened to 15-property net-leased portfolio?
- 15-property net-leased portfolio is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed May 30, 2025.
- What does the Trust actually own?
- Fifteen net-leased retail properties totaling 198,723 square feet, which ExchangeRight described on December 16, 2025 as sitting in 14 markets across 11 states. The sponsor stated an aggregate portfolio value of $65.89 million. Individual addresses, acquisition dates and per-property prices are not in the public filings.
- Who are the tenants?
- ExchangeRight named Tractor Supply, Dollar General Market, Sherwin-Williams, Dollar Tree, and Daybreak Market & Fuel. These are net-leased retail users, meaning each tenant generally bears taxes, insurance, and maintenance on its building rather than the landlord. The sponsor reported an initial weighted-average lease term of 15.3 years. Public materials do not map which tenant occupies which property.
- Why does the SEC filing show $35.49 million when the sponsor says $65.9 million?
- The Form D filed May 30, 2025 reports a total offering amount of $35,490,000, which is the securities amount registered in that notice. ExchangeRight's December 16, 2025 release describes the underlying real estate as a $65.89 million portfolio. Public materials do not explain the relationship between the two figures; the offering documents govern.
- Is the portfolio leveraged?
- The public record does not say. Debt terms, if any, would be described in the offering documents and the loan documents.
- What does a Rule 506(b) offering mean here?
- Rule 506(b) is a private-placement exemption that bars general solicitation or advertising, so the sponsor and its selling broker-dealers may only offer interests to investors with whom they have a pre-existing relationship — in practice accredited investors meeting SEC income or net-worth tests. This Trust's Form D reports an equity offering with a $100,000 minimum investment.
In the news
Sources
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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 offering documents before investing.