ExchangeRight Net-Leased All-Cash 14 DST
3 net-leased retail properties in 3 states · sponsored by ExchangeRight
ExchangeRight Net-Leased All-Cash 14 DST was a DST sponsored by ExchangeRight that owned 3 net-leased retail properties in 3 states. Its last Form D was filed May 22, 2025.
How it ended
No outcome recorded · under 7 years
The record lists the offering as fully subscribed; the last Form D was filed May 22, 2025.
Key facts
- Minimum investment
- $100,000From the Form D
- Offering size
- $38,080,000Equity offered, per the Form D
- Sold
- Not reported after the first Form D (May 22, 2025)Form D, May 22, 2025
- Selling commissions
- Form D Item 15; the % is our arithmetic$2,284,800 · 6.0% of offering
- 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 →
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Ask a 1031 specialist about this recordFree. About: ExchangeRight Net-Leased All-Cash 14 DST. Top1031 is not a broker-dealer.ExchangeRight Net-Leased All-Cash 14 DST · Photo: cdn-static.exchangeright.com
What did the Trust own?
ExchangeRight assembled four single-tenant net-leased retail buildings in Texas, Alabama, and Pennsylvania into one portfolio it reported as debt-free, with total capitalization of $23.3 million as of October 7, 2025. 2 The sponsor has not published street addresses, individual building sizes, or construction dates, and no located public record supplies them. Which tenant occupies which building is also undisclosed.
- Reported location
- Multi-state (3)
- Property size
- 4 properties; 74,736 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?
The buildings were bought with investor equity alone, without mortgage borrowing. 2 There is no lender, no loan maturity to refinance, and no mortgage covenant or lender consent standing between the Trust and its tenants' rent.
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $2,284,800 · 6.0% 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 the Trust?
ExchangeRight, based in Pasadena, California, sponsors and manages the Trust and runs a platform of net-leased DST offerings alongside an affiliated REIT. 2 The Form D on record identifies this issuer as a business trust. 1 The sponsor described the Trust as expanding the acquisition pipeline for its affiliated Essential Income REIT. 2 AltsWire reported on July 22, 2026 that the REIT's net asset value reached $905.7 million as of June 30, 2026, and ExchangeRight announced the same day that it hired Ross Wood to source net-leased industrial acquisitions.
- Sponsor
- Offerings on record
What does the SEC record show?
No amendment has been filed to update the sales figures, so the federal record still reflects the offering as first noticed, while ExchangeRight announced full subscription on October 7, 2025. 2 The exemption relied on bars general advertising, limiting sales to accredited investors — those meeting SEC income or net-worth tests — already known to the sponsor or its brokers.
- Legal Trust name
- ExchangeRight Net-Leased All-Cash 14 DST
- SEC CIK
- 2069725
- First Form D
- May 22, 2025
- Latest Form D
- May 22, 2025
- 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 | $38,080,000 | $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 All-Cash 14 DST?
- ExchangeRight Net-Leased All-Cash 14 DST is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed May 22, 2025.
- Why does the SEC filing amount differ from the sponsor's $23.3 million figure?
- The Form D states the maximum dollar amount of trust interests offered to investors, while the sponsor's October 7, 2025 release describes the real estate portfolio itself as $23.3 million and debt-free. The two figures measure different things, and no located source reconciles them, so they should not be treated as interchangeable.
- What does "all-cash" mean for a DST like this one?
- It means the properties were purchased without mortgage financing. There is no loan to refinance or default on, and no lender approval needed for major decisions. A 1031 investor with debt on their relinquished property should note that an all-cash DST supplies no replacement debt, which can create boot and a taxable event depending on the exchange.
- Where exactly are the four properties?
- ExchangeRight reported that the four net-leased buildings span Texas, Alabama, and Pennsylvania and total 74,736 square feet, without disclosing street addresses or which tenant occupies which building. No located public record fills that gap. The full property schedule appears in the offering documents.
- When were the properties acquired?
- No acquisition or closing date for any of the four buildings is established in the located public record. The Form D was filed on May 22, 2025 and ExchangeRight announced full subscription on October 7, 2025, but an SEC first-sale filing date is not an acquisition date. Closing dates should be confirmed in the offering documents.
- How is this Trust expected to end?
- ExchangeRight described the Trust as expanding the acquisition pipeline for its affiliated Essential Income REIT, which points to a possible future contribution of the properties into that REIT, but no located public filing sets out the Trust's permitted exit routes or any timetable. Top1031's structured data records no REIT conversion feature for this Trust. The trust agreement and offering documents govern what dispositions are allowed.
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.