5-property net-leased retail/healthcare portfolio
Net lease retail/healthcare in Multi-state (5) — sponsored by ExchangeRight
Files with the SEC as ExchangeRight Essential Income 7 DST
Minimum investment
$100k
Offering size
$39.0M
How much has sold
None sold yet
Asset type
Net lease retail/healthcare
Location
Multi-state (5)
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 Essential Income 7 DST is a Delaware statutory trust — a structure letting 1031 exchangers hold fractional interests in real estate — owning net-leased retail and healthcare buildings in Massachusetts, Michigan, Missouri, Georgia and Texas, occupied by BioLife Plasma Services, Hobby Lobby and Tractor Supply.2 ExchangeRight announced the offering fully subscribed and closed to new investors on July 1, 2026.2
5.50% rate; unleveraged (0% LTV); 20yr REIT master lease; 721 exit ~2yr; BioLife, Hobby Lobby, Tractor Supply
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These links support the public record as a whole; individual details may come from different sources.
MA · exact location not on recordThe filings name the market but not an address we can place on a map.
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?
Public disclosure stops at the state line: ExchangeRight's announcement places the retail and healthcare buildings in Massachusetts, Michigan, Missouri, Georgia and Texas without naming cities or streets.2 Neither that release nor the Form D discloses acquisition dates, purchase prices, sellers, or construction years for the individual assets. Those details sit in the offering documents rather than in the public record.
- Reported location
- Multi-state (5)
- Property size
- 147,862 SF / 5 properties
Who is the tenant, and what's the lease?
BioLife Plasma Services, Hobby Lobby and Tractor Supply occupy the portfolio on net leases, under which the tenant rather than the landlord carries most operating costs.2 ExchangeRight also reports a 20-year master lease guarantee from its Essential Income REIT and that REIT's operating partnership — an affiliate promise standing behind the rent.2
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?
ExchangeRight describes the Trust as unleveraged, meaning the properties are owned outright with no mortgage, so there is no loan maturity or lender refinancing to plan around.2 The Form D does not address debt either way, and the leverage tag below reflects directory data rather than a filing.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
- Distribution rate
- 5.50%exchangeright.com
- Target hold
- approximately two yearsexchangeright.com
Who's behind it?
ExchangeRight sponsors net-leased trusts and operates its own Essential Income REIT.2 That REIT serves both as master-lease guarantor here and as the destination for the planned 721 exchange, in which investors trade trust interests for REIT operating-partnership units.2 AltsWire reported on July 22, 2026 that the REIT's net asset value reached $905.7 million as of June 30, 2026. ExchangeRight announced a separate net-leased DST fully subscribed on July 14, 2026.
- Sponsor
- ExchangeRight
- Legal Trust name
- ExchangeRight Essential Income 7 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 public paper trail is thin: a single Form D — the short notice an issuer files with the SEC when selling securities privately to accredited investors — with no amendment filed to reflect the sponsor's later close.1 Interests were sold privately rather than by general advertising, so the terms live in the private placement memorandum.
- 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 5-property net-leased retail/healthcare portfolio still raising money?
Top1031 lists 5-property net-leased retail/healthcare 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 5-property net-leased retail/healthcare 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 Essential Income 7 DST?
No. ExchangeRight announced on July 1, 2026 that the offering was fully subscribed, closed, and no longer accepting new investors. Investors working a 45-day identification window would need to look at the sponsor's currently open trusts or other sponsors' offerings instead.
Why does the SEC filing show no sales?
The Form D was filed on December 8, 2025, before the first sale occurred, so it is a snapshot of the offering at launch. Issuers are not required to amend a Form D simply because a private offering later closes, and no amendment has been filed here.
Who are the tenants?
ExchangeRight identifies BioLife Plasma Services, Hobby Lobby and Tractor Supply Company as the tenants across the five net-leased retail and healthcare properties. Individual store-level lease terms, expiration dates and renewal options were not disclosed publicly; the private placement memorandum carries them.
What does the 721 exit mean here?
A Section 721 exchange lets investors contribute their trust interests to a REIT's operating partnership in exchange for units, generally without triggering tax at that moment. ExchangeRight designed this trust to move into its own Essential Income REIT. Units are not like-kind property, so a later 1031 exchange out is no longer available.
What is a master lease guarantee?
An affiliate of the sponsor — here ExchangeRight's Essential Income REIT and its operating partnership — signs a lease over the properties and stands behind the rent obligation to the trust. It shifts some tenant-default risk onto the guarantor, whose own financial strength then matters to the investor.
Chapter 9ExchangeRight Completes $39M DST Backed by Retail, Healthcare PropertiesConnect Money's trade-press coverage of the fully subscribed $38.95 million Essential Income 7 DST portfolio spanning five net-leased retail and healthcare properties across five states. ExchangeRight's Essential Income 6 DST Fully Subscribed as Investor Demand for Expedited 721 REIT Access ContinuesAnnounces full subscription of Essential Income 6 DST at $39.39M.