Essential Income 5 DST
Net lease retail in Multi-state (5) — sponsored by ExchangeRight
Files with the SEC as ExchangeRight Essential Income 5 DST
Minimum investment
$100k
Offering size
$38.1M
How much has sold
None sold yet
Asset type
Net lease retail
Location
Multi-state (5)
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Essential Income 5 DST is a closed ExchangeRight offering — a Delaware statutory trust, the passive co-ownership vehicle that qualifies for 1031 exchanges — holding net-leased retail buildings occupied by Hy-Vee, Tractor Supply, and Dollar General in five states.1 ExchangeRight reported it fully subscribed on February 26, 2026; it no longer accepts new investors.1 The stated exit is a Section 721 exchange into the sponsor's Essential Income REIT.1
5.50% rate; 20yr REIT master lease; 721 exit ~2yr; Hy-Vee, Tractor Supply, Dollar General; 7 markets
Show sources (2)Hide sources (2)
These links support the public record as a whole; individual details may come from different sources.
New York, Alabama, Washington, Missouri, and Indiana · 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?
ExchangeRight assembled this Trust from single-tenant retail buildings in markets across New York, Alabama, Washington, Missouri, and Indiana — grocery, farm-and-ranch, and small-format discount stores of the kind the sponsor calls essential retail.1 No public source names the individual buildings, their addresses, or their acquisition dates and prices. Anything specific to one building has to come from the PPM, the private placement memorandum.
- Reported location
- Multi-state (5)
- Property size
- 7 properties; 209,869 square feet
Who is the tenant, and what's the lease?
The buildings are leased to Hy-Vee, Tractor Supply Company, and Dollar General, and ExchangeRight layered over them a 20-year master lease guaranteed by its Essential Income REIT and that REIT's operating partnership — so a sponsor affiliate, not the retail tenants alone, stands behind the rent.1 Per-property lease terms are 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?
Public filings do not say whether the Trust holds its properties all-cash or with mortgage debt, and no lender is named anywhere in the record. The terms below are the sponsor's own, as stated in its February 26, 2026 announcement.1
- Distribution rate
- 5.50%exchangeright.com
- Target hold
- two-year hold periodexchangeright.com
Who's behind it?
ExchangeRight sponsors net-lease DST portfolios built around necessity retail and pairs them with its own non-traded REIT, the Essential Income REIT, as a landing place for investors who later elect a 721 exchange.1 AltsWire reported on July 22, 2026 that the REIT's net asset value reached $905.7 million as of June 30, 2026, after debt refinancing and the acquisition of 39 properties through DST merger agreements. The sponsor fully subscribed a separate $90.67 million Net-Leased Portfolio 73 DST on July 14, 2026.
- Sponsor
- ExchangeRight
- Legal Trust name
- ExchangeRight Essential Income 5 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 Trust's Form D has never been amended, so the public file still shows the offering as it stood at launch rather than the sponsor's later fully-subscribed announcement.1 Under Rule 506(b), interests could be offered privately to accredited investors — those meeting SEC income or net-worth tests — without public advertising.
- 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 Essential Income 5 DST still raising money?
Top1031 lists Essential Income 5 DST 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 Essential Income 5 DST?
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 5 DST?
No. ExchangeRight announced on February 26, 2026 that the Trust was fully subscribed, closed, and no longer accepting new investors; AltsWire reported the same the prior day. It is a Historical offering — closed to new investors — and appears here as a record, not an availability listing.
Why does the SEC record show no sales?
The only filing on record is the Form D submitted at launch on August 25, 2025, when the first sale had not yet occurred. That filing was never amended, so the SEC file still reports zero sold. The full-subscription figure comes from ExchangeRight's February 26, 2026 announcement, not from an updated filing.
What does the 721 exchange exit mean here?
ExchangeRight states the plan is a Section 721 exchange: investors contribute their property interest to the operating partnership of its Essential Income REIT in return for partnership units, deferring tax at that step. Units are not a 1031-eligible property, so future 1031 exchanges end there. The sponsor describes this as a plan; no completed exchange for this Trust is documented in public sources.
Who are the tenants?
ExchangeRight reports the seven net-leased properties are occupied by Hy-Vee, Tractor Supply Company, and Dollar General across seven markets in New York, Alabama, Washington, Missouri, and Indiana. Which tenant occupies which building, and each lease's remaining term, are not disclosed in any public source located.
Is the Trust leveraged?
Unknown from public records. The Form D does not address property-level debt, and no located source names a lender, loan amount, rate, or maturity for this Trust. The PPM and closing documents are the place to settle it.
Chapter 9ExchangeRight Fully Subscribes $38.1M Essential Income 5 DSTAltsWire trade-press coverage of ExchangeRight fully subscribing its $38.1 million Essential Income 5 DST, a seven-property net-leased portfolio originally launched in August 2025.