Essential Income 1 DST
Net lease retail property · sponsored by ExchangeRight
Essential Income 1 DST was a DST sponsored by ExchangeRight that owned a net lease retail property. Its last Form D was filed Nov 8, 2024.
How it ended
No outcome recorded · under 7 years
The record lists the offering as fully subscribed; the last Form D was filed Nov 8, 2024.
Key facts
- Minimum investment
- $100,000From the Form D
- Offering size
- $10,978,396Equity offered, per the Form D
- Sold
- Not reported after the first Form D (Nov 8, 2024)Form D, Nov 8, 2024
- Selling commissions
- Form D Item 15; the % is our arithmetic$439,136 · 4.0% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.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: Essential Income 1 DST. Top1031 is not a broker-dealer.Essential Income 1 DST · Photo: cdn-static.exchangeright.com
What did Essential Income 1 DST own?
The trust holds single-tenant retail buildings spread across 12 markets in four states, a portfolio ExchangeRight valued at $25.21 million when it announced the offering's close on May 28, 2025. 1 Neither the Form D nor the sponsor's announcement identifies the individual addresses, the four states, or when and at what price each building was acquired, so the property-level record remains thin.
- Property size
- 13 properties, 124,315 sq ft
Tenant and lease terms are not in the SEC filings or cited sources.
How was it financed, and what did it cost to sell?
Neither the Form D on file nor ExchangeRight's announcement discloses whether the portfolio carries mortgage debt or was acquired without leverage, and no lender is named. On the public record, the trust's capital structure is unresolved.
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
- $439,136 · 4.0% 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
- 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.
Who's behind Essential Income 1 DST?
ExchangeRight assembles net-leased retail portfolios and also sponsors the Essential Income REIT. 1 This trust was the first DST in its Essential Income series, marketed as giving 1031 investors accelerated access to that REIT through a tax-deferred Section 721 exchange — swapping trust interests for REIT units without triggering gain at the swap. 1 ExchangeRight announced the offering fully subscribed on May 28, 2025, and has not reported that the 721 exchange has since occurred. 1
- Sponsor
- Offerings on record
What does the SEC record show?
One Form D is on record and it was never amended, so the SEC file still reflects the offering as it stood at launch, while news of the close came from the sponsor. The exemption claimed limits sales to accredited investors — those meeting SEC income or net-worth tests — reached through existing relationships rather than public advertising.
- Legal Trust name
- ExchangeRight Essential Income 1 DST
- SEC CIK
- 2044351
- First Form D
- Nov 8, 2024
- Latest Form D
- Nov 8, 2024
- Filings on record
- 1
- 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 | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $10,978,396 | $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 Essential Income 1 DST?
- Essential Income 1 DST is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Nov 8, 2024.
- Does Essential Income 1 DST have a 721 UPREIT exit?
- The record lists a possible 721 exit for Essential Income 1 DST. 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
- What is actually in the portfolio?
- Thirteen net-leased properties totaling 124,315 square feet, occupied by Dollar General, NAPA Auto Parts, Family Dollar, and Dollar Tree across 12 markets in four states, per ExchangeRight's May 28, 2025 announcement. The sponsor did not publish the individual addresses, the state names, or the per-property lease terms.
- Why does the Form D amount differ from the $25.21 million portfolio figure?
- They measure different things. The Form D reports the equity amount the trust registered to raise from investors, while $25.21 million is ExchangeRight's stated value of the real estate portfolio. No public filing reconciles the two figures, and they should not be read as interchangeable.
- Is the portfolio leveraged?
- The public record does not say. The Form D does not address debt, and ExchangeRight's announcement names no lender and gives no loan terms. An investor reviewing a trust like this would look to the offering documents for loan amount, lender, maturity, and any recourse terms.
- How large is ExchangeRight's 1031 program overall?
- ExchangeRight has filed dozens of DST offerings with the SEC, and the sponsor page on this site tracks the active and closed counts drawn from those filings. This trust was the first in the sponsor's Essential Income DST series.
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.