Top1031

ExchangeRight Net Leased Portfolio 34 DST

in Virginia, PA · sponsored by ExchangeRight

HistoricalLast Form D, filed Dec 23, 2022, reports the offering fully sold (opens in a new tab)

ExchangeRight Net Leased Portfolio 34 DST, sponsored by ExchangeRight, filed its first Form D with the SEC on May 4, 2020 for a $18.7 million offering. Its last Form D, filed Dec 23, 2022, reports the offering fully sold.

How it ended

No outcome recorded · under 7 years

The last Form D, filed Dec 23, 2022, reports the offering fully sold.

ExchangeRight has 11 active offerings on record →

Key facts

Minimum investment
$100,000
From the Form D
Offering size
$18,700,000
Equity offered, per the Form D
Sold
100%
Form D, Dec 23, 2022; the % is our arithmetic
Investors reported
52
Form D, Dec 23, 2022
Selling commissions
$935,000 · 5.0% of offering
Form D Item 15; the % is our arithmetic
Financing
All cash. This offering reports no 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 →

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 34 DST. Top1031 is not a broker-dealer.

What did the Trust own?

The Trust holds four single-tenant properties in four states. ExchangeRight's offering summary lists a 13,846-square-foot building in Bristol, Virginia leased to Ballad Health; a 10,766-square-foot Dollar General in Butler, Pennsylvania; a 38,759-square-foot Federal Express building in Conover, North Carolina; and a 13,812-square-foot Walgreens in Chicago, Illinois. 1

Reported location
Virginia, PA

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

There is no mortgage on the portfolio. ExchangeRight described Portfolio 34 as an all-equity offering in August 2020, meaning the real estate was bought outright with investor cash, so there is no lender, no loan covenants and no refinancing to arrange before a sale. 2

Debt

Financing
All cash. This offering reports no mortgage debt.

Costs and terms from the Form D

Selling commissions
$935,000 · 5.0% 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
13 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
May 14, 2020
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?

The offering came to the SEC by notice rather than full registration: an initial Form D, the short public notice of a private placement, and one later amendment updating the issuer's reported figures. Interests were offered privately to accredited investors, without public advertising.

Legal Trust name
ExchangeRight Net Leased Portfolio 34 DST
SEC CIK
1808981
First Form D
May 4, 2020
Latest Form D
Dec 23, 2022
Filings on record
2
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 soldInvestors
Form D/A$18,700,000
$18,700,000+$18,700,000
52
EDGAR
Form D$18,700,000
$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 ExchangeRight Net Leased Portfolio 34 DST?
ExchangeRight Net Leased Portfolio 34 DST is a Historical offering. The last Form D, filed Dec 23, 2022, reports the offering fully sold.
What does this Trust own?
It owns four single-tenant properties in four states.
Who are the tenants?
Four national tenants: Wellmont Health System doing business as Ballad Health, Dollar General, Federal Express Corp. and Walgreens. ExchangeRight's August 27, 2020 announcement described the portfolio as 100% occupied by those four businesses.
When do the leases expire?
The original property schedule in ExchangeRight's offering documents exhibit shows scheduled expirations of January 31, 2030 for the Bristol, Virginia property, November 30, 2030 for Conover, North Carolina, September 30, 2031 for Chicago, Illinois, and July 31, 2032 for Butler, Pennsylvania.
Is there a mortgage on the portfolio?
No. The portfolio is all cash, and ExchangeRight described Portfolio 34 as an all-equity offering in August 2020. Without a loan, there are no lender covenants and no debt to repay or refinance at sale.
What was the minimum investment?
The Form D filed on May 4, 2020 reported a minimum investment of $100,000 for an outside investor.
Who is the sponsor?
ExchangeRight, which sponsors net-leased Delaware Statutory Trust portfolios for 1031 exchange investors. A DST is a trust that holds real estate and sells fractional interests that can qualify as replacement property in a 1031 exchange.

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.