Top1031

ExchangeRight Net Leased Portfolio 2 DST

Net lease property · sponsored by ExchangeRight

Historical · soldSold Sep 2019, as reported by ExchangeRight · last Form D Sep 26, 2012Sponsor source (opens in a new tab)

ExchangeRight Net Leased Portfolio 2 DST was a DST sponsored by ExchangeRight that owned a net lease property. ExchangeRight sold the property in Sep 2019 for $11,718,709, as reported by the sponsor.

How it ended

Sold, result reported by the sponsor

Sold Sep 2019 for $11,718,709 as reported by the sponsor

Annualized return
10.1% as reported by the sponsor
Date
Sep 26, 2019
Held
7.0 years

Sponsor document (opens in a new tab)

ExchangeRight has 11 active offerings on record →

Key facts

Minimum investment
$55,975
From the Form D
Offering size
$5,597,500
Equity offered, per the Form D
Sold
Not reported after the first Form D (Sep 26, 2012)
Form D, Sep 26, 2012
Selling commissions
$391,825 · 7.0% of offering
Form D Item 15; the % is our arithmetic
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 →

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: ExchangeRight Net Leased Portfolio 2 DST. Top1031 is not a broker-dealer.

What did the Trust own?

ExchangeRight assembled seven freestanding discount stores in seven markets across six states, and the Trust closed on the portfolio on August 31, 2012. 2 Six were leased to Family Dollar and one to Dollar General, and the portfolio was 100% leased at closing. 2 Buildings ranged from roughly 8,000 to 10,000 square feet, including a 10,000-square-foot Dollar General in Chicago and a 9,180-square-foot Family Dollar in Memphis. 2

Tenant and lease terms are not in the SEC filings or cited sources.

How was it financed, and what did it cost to sell?

The Trust was leveraged with non-recourse debt — borrowing the lender can pursue only against the properties, not against investors personally — fixed for a ten-year term and amortized on a 30-year schedule. 2 Public materials do not name the lender.

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.

Costs and terms from the Form D

Selling commissions
$391,825 · 7.0% 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
$55,975

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?

The Trust's SEC record is the single exempt-offering notice sponsors file when selling privately; it reported that no sales had yet occurred at the filing date, and no amendment followed. 1 The offering was made only to accredited investors — those meeting SEC income or net-worth tests — without general advertising. 2

Legal Trust name
ExchangeRight Net Leased Portfolio 2 DST
SEC CIK
1559044
First Form D
Sep 26, 2012
Latest Form D
Sep 26, 2012
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$5,597,500
$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 ExchangeRight Net Leased Portfolio 2 DST?
ExchangeRight Net Leased Portfolio 2 DST is a Historical offering. Sold Sep 2019, as reported by ExchangeRight.
What did the Trust own?
Seven single-tenant discount retail buildings in seven markets across six states — six leased to Family Dollar and one to Dollar General — which the Trust closed on August 31, 2012 and which were 100% leased at that time, according to the offering summary.
What outcome did the sponsor report?
ExchangeRight's October 9, 2019 release stated that Portfolios 1 and 2 had been taken full cycle with total returns ranging from 145% to 176%, including return of capital, across cash, 1031 and 721 exit paths. Its Full-Cycle Returns schedule lists Net-Leased Portfolio 2 with a completion date of September 26, 2019 and a 10.08% average annual return figure.
How does ExchangeRight calculate that average annual return?
ExchangeRight states that its average annual return for Net-Leased Portfolio offerings is the simple average of the cash-out/1031-exchange exit return and the return for investors who completed a 721 exchange into the acquiring REIT, based on that REIT's net asset value per share.
Was the Trust financed with debt?
Yes. The offering summary describes non-recourse financing fixed for ten years with 30-year amortization, alongside the equity raised from investors. The lender is not identified in the public materials reviewed.
Does the Trust still exist on paper?
An exhibit to a Form 10-K dated February 26, 2026 lists ExchangeRight Net Leased Portfolio 2 DST as a Delaware subsidiary of ExchangeRight Income Fund, which does business as ExchangeRight Essential Income REIT. The entity appears in that subsidiary list; the offering itself is closed.

In the news

Sources

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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.