ExchangeRight Net-Leased All-Cash 20 DST
Net-leased retail (debt-free/all-cash) property in Burleson; Sumter; El Paso; Belton; Pelham; Converse, Texas, South Carolina, and Alabama — sponsored by ExchangeRight
a portfolio of six single-tenant, 100% occupied, net-leased retail properties · Open 506(b); all-cash (no debt) series; property details gated to accredited investors
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What is this, in one paragraph?
ExchangeRight Net-Leased All-Cash 20 DST is a Delaware statutory trust — fractional, passive real estate ownership that can qualify as 1031 exchange replacement property. Formed January 5, 2026, it holds six single-tenant, fully occupied net-leased retail buildings in Texas, South Carolina and Alabama, owned free of mortgage debt.2 Interests are sold privately under Rule 506(b) to accredited investors, buyers who meet SEC income or net-worth tests.
Sponsor-reported, from SEC filings and cited sources.
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 formed the Trust on January 5, 2026 and placed into it six single-tenant net-leased retail buildings acquired for $15,016,390 — four in Texas markets and one each in South Carolina and Alabama.2 All six were reported 100% occupied.2 Individual building sizes, construction years and the mapping of tenant to address are not settled by the public record.
- Property address
- 2629 East Renfro Street, Burleson, Texas; 811 Bethel Church Road, Sumter, South Carolina; 3651 George Dieter Drive, El Paso, Texas; 1000 East 6th Avenue, Belton, Texas; 2176 Highway 52 East, Pelham, Alabama; and 8318 FM 78, Converse, Texas, Burleson; Sumter; El Paso; Belton; Pelham; Converse, Texas, South Carolina, and Alabama
Who is the tenant, and what's the lease?
Offering materials name the operators as Dollar General, Dollar Tree, Tractor Supply, O'Reilly Auto Parts and NAPA Auto Parts, without mapping operator to address.2 The buildings sit under a 20-year master lease on net terms — property taxes, insurance and maintenance borne at the tenant level — whose rent ExchangeRight Essential Income Operating Partnership guarantees.2
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.
Raise history appears here once sales are filed — free account required.
How is it financed, and what does it pay?
No mortgage encumbers the six properties: investor equity funds the entire purchase, and the offering material reports no lender and no in-place financing.2 That leaves no loan maturity and no refinancing event to plan around — and no replacement debt for an exchanger whose relinquished property carried a mortgage.
- Financing
- All cash. This offering reports no mortgage debt.
Who's behind it?
ExchangeRight Real Estate, LLC sponsors the Trust.2 The firm runs a numbered series of debt-free net-leased DSTs assembled for 1031 exchangers, of which this is one. It announced full subscription of its $52.78 million All-Cash 18 DST on June 18, 2026, and AltsWire reported on August 5, 2026 that ExchangeRight had raised approximately $385.6 million of DST equity through July 2026.
- Sponsor
- ExchangeRight
- May convert to a REIT
- No
- 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?
A Form D is only the SEC notice that an exempt private offering has begun, not a status report on the raise; nothing has amended this Trust's notice, and the exemption relied on bars general advertising and public solicitation. Baker 1031's offering page listed the offering as closed, with the equity shown as fully raised, as of September 2, 2026.2
- Form D filedFirst and latest filing on record.
- Legal Trust name
- ExchangeRight Net-Leased All-Cash 20 DST
- 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 ExchangeRight Net-Leased All-Cash 20 DST still raising money?
Availability unconfirmed. Active means a filing within the past 15 months; it does not by itself establish current subscription availability.
Where does Top1031 get the data for ExchangeRight Net-Leased All-Cash 20 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.
Is the offering still open to new investors?
The public record points toward closed. EDGAR holds a single Form D for this Trust, accession 0002134042-26-000001, dated May 11, 2026, with no amendment or termination notice since — and a Form D is a notice that an exempt offering began, not a running status report. Separately, Baker 1031's offering page listed the offering as closed, with the equity shown as fully raised, as of September 2, 2026, a status no SEC filing confirms. Only the sponsor or the selling broker-dealer can say what is currently available.
What does "all-cash" or "debt-free" mean for this Trust?
No mortgage sits on the six properties. Investor equity funds the entire purchase, and the offering material reports no in-place financing, so there is no lender, no loan maturity, no scheduled trust-level debt service and no refinancing event. It also means the Trust supplies no replacement debt, which matters to an exchanger whose relinquished property carried a mortgage — a question for a tax adviser, since unreplaced debt can create taxable boot.
Who are the tenants, and what kind of lease is in place?
Offering materials name the operators as two Dollar General stores plus one location each operated as Dollar Tree, Tractor Supply, O'Reilly Auto Parts and NAPA Auto Parts, across six single-tenant buildings reported 100% occupied. The leases are net leases — property taxes, insurance and maintenance borne at the tenant level — and Baker 1031 reports an approximately 9.9-year weighted-average remaining lease term under a 20-year master lease whose rent ExchangeRight Essential Income Operating Partnership guarantees. Which operator occupies which address, and each lease's expiration date, are not settled by the public record; the PPM, the private placement memorandum that governs the offering, is where they are documented.
Is there a 721/UPREIT exit?
The record here shows no REIT conversion feature for this Trust. Baker 1031's offering page, by contrast, describes the sponsor's optional exit strategy as aggregating the portfolio into its REIT platform through a Section 721 exchange — the swap of property or DST interests for operating-partnership units in a REIT, which ends the ability to do a future 1031 exchange out of the position. Because those two readings differ, the PPM is the document that governs whether any such option exists and how it could be exercised.
How much does it take to invest, and who can?
The Form D reports a minimum investment of $100,000. Interests are offered privately under Rule 506(b) of Regulation D, which limits the offering to accredited investors — individuals meeting SEC income or net-worth tests — and bars general advertising or public solicitation, so the offering is reached through a broker-dealer or registered representative rather than a public listing.
What is not settled by the public record here?
Which operator occupies which address, each lease's remaining term and expiration date, the full terms of the master-lease rent guarantee, individual building sizes and construction years, the date the acquisitions actually closed, and the Trust's own reported subscription status, since no SEC filing has updated the May 11, 2026 Form D. The PPM and the sponsor's property schedule are where these are documented.