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7-property net-leased retail portfolio

4 net lease retail properties in 4 states · sponsored by ExchangeRight

HistoricalLast Form D filed Apr 18, 2025 (opens in a new tab)

7-property net-leased retail portfolio was a DST sponsored by ExchangeRight that owned 4 net lease retail properties in 4 states. Its last Form D was filed Apr 18, 2025.

How it ended

No outcome recorded · under 7 years

The record lists the offering as fully subscribed; the last Form D was filed Apr 18, 2025.

ExchangeRight has 11 active offerings on record →

Key facts

Minimum investment
$100,000
From the Form D
Offering size
$22,615,000
Equity offered, per the Form D
Sold
Not reported after the first Form D (Apr 18, 2025)
Form D, Apr 18, 2025
Selling commissions
$904,600 · 4.0% of offering
Form D Item 15; the % is our arithmetic
Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
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 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: 7-property net-leased retail portfolio. Top1031 is not a broker-dealer.
7-property net-leased retail portfolio image

7-property net-leased retail portfolio · Photo: bluevaultpartners.com

What did the Trust own?

The "7-property net-leased retail portfolio" is ExchangeRight Essential Income 3 DST, a roughly $22.6 million Delaware statutory trust sponsored by ExchangeRight. It holds seven net-leased properties totaling 67,374 square feet across Florida, Alabama, Nevada, and New Jersey, leased to AutoZone, Dollar General, Tractor Supply, Dollar Tree, and Truist Bank. The offering is fully covered by in-place rents and supported by a 20-year master lease guarantee from the Essential Income REIT and its Operating Partnership. The planned exit, after a targeted two-year hold, is a tax-deferred Section 721 exchange into the Essential Income REIT. The sponsor reported the offering reached full subscription and closed on December 2, 2025.

Reported location
Multi-state (4)
Property size
seven properties; 67,374 square feet

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
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
May convert to a REIT (721)
Yes

Costs and terms from the Form D

Selling commissions
$904,600 · 4.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$0 · 0.0% of offering
Form D Item 16
Broker-dealers named in the Form D
1 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Not in the Form D
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.

What does the SEC record show?

Legal Trust name
ExchangeRight Essential Income 3 DST
SEC CIK
2061828
First Form D
Apr 18, 2025
Latest Form D
Apr 18, 2025
Filings on record
1
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount sold
Form D$22,615,000
$0
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 7-property net-leased retail portfolio?
7-property net-leased retail portfolio is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Apr 18, 2025.
Does 7-property net-leased retail portfolio have a 721 UPREIT exit?
The record lists a possible 721 exit for 7-property net-leased retail portfolio. The offering documents set whether and when it could happen. In a 721 exchange, or UPREIT, the DST’s property is contributed to a REIT’s operating partnership and investors receive operating-partnership units instead of cash.
How a DST-to-721 UPREIT exit works

In the news

ExchangeRight's Essential Income 3 DST Fully Subscribed Amid Soaring Investor Demand for DSTs With Expedited 721 REIT AccessExchangeRight announces full subscription of Essential Income 3 DST, a $22.6 million portfolio of seven net-leased retail properties (67,374 sq ft) in Florida, Alabama, Nevada, and New Jersey, leased to AutoZone, Dollar General, Tractor Supply, Dollar Tree, and Truist Bank at a 5.50% current distribution rate with a 20-year master lease guarantee from Essential Income REIT.
As reported by the sponsor · ExchangeRight ↗also: Blue Vault ↗

Sources

Show sources (3)Hide sources (3)

These links support the record as a whole; individual details may come from different sources.

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.