Top1031

ExchangeRight Net-Leased Portfolio 74 DST

Net-leased retail in North Carolina, California, Ohio, Michigan, Texas, Mississippi, Pennsylvania, Iowa, and Nebraska — sponsored by ExchangeRight

Minimum investment
$100k
Offering size
$36.6M
How much has sold
None sold yet
Asset type
Net-leased retail
Location
North Carolina, California, Ohio, Michigan, Texas, Mississippi, Pennsylvania, Iowa, and Nebraska
Financing
Leveraged. This offering reports mortgage debt on the property.

Sponsor-reported, from SEC filings and cited sources.

Chapter 1

What is this, in one paragraph?

ExchangeRight Net-Leased Portfolio 74 DST is a Delaware Statutory Trust — a structure that lets 1031 exchangers hold fractional interests in real estate — holding 11 freestanding single-tenant retail stores in nine states, leased to CVS Pharmacy, Dollar General and Tractor Supply Company.3 SEC records identify a Delaware trust run from Pasadena, California.1 The sponsor reports the offering fully subscribed and closed to new investors.

$63.3M total/$36.6M equity; LTV 42.23%; min $100k; WALT 16.16y; 10-yr IO 6.08%; 3 tenants, 100% leased

Show sources (4)Hide sources (4)

These links support the public record as a whole; individual details may come from different sources.

North Carolina, California, Ohio, Michigan, Texas, Mississippi, Pennsylvania, Iowa, and Nebraska · 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.

Chapter 2

What exactly is the property?

This is a portfolio Trust rather than a single building: ExchangeRight assembled freestanding single-tenant retail stores under one Delaware Statutory Trust, so an investor holds a fractional interest in the group and not in any one location. Baker 1031 Exchange reports a $55.27 million purchase price against a $55.81 million appraised value.3 Street addresses, the tenant-to-building mapping and acquisition dates do not appear in the public sources reviewed.

Reported location
North Carolina, California, Ohio, Michigan, Texas, Mississippi, Pennsylvania, Iowa, and Nebraska
Property size
11 single-tenant, net-leased retail properties; approximately 198,705 square feet
Chapter 3

Who is the tenant, and what's the lease?

Baker 1031 Exchange identifies the tenants as CVS Pharmacy, Dollar General and Tractor Supply Company.3 Real Estate Transition Solutions reports the portfolio 100% leased with a weighted average remaining lease term of 16.16 years.2 Net leases push some or all of the taxes, insurance and maintenance onto the tenant rather than the landlord.

Chapter 4

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.

How we work out how much has sold

We divide the amount the sponsor reports sold by the offering size in its latest SEC filing, filed Dec 23, 2025.

  • The sponsor reports these amounts itself, and can amend them later.
  • A filing can be behind what has actually sold. It does not confirm that interests are still available.
  • The amount left to sell is the offering size minus the amount sold.

The sponsor reported this offering sold out without filing per-sale amendments, so there is no raise history to show.

Chapter 5

How is it financed, and what does it pay?

Leveraged means mortgage debt sits alongside investor equity: the lender's claim on the properties comes ahead of the beneficial owners, and that debt can also serve as replacement debt for an exchanger who paid off a mortgage on the relinquished property. Baker 1031 Exchange describes the mortgage as a non-recourse loan from Barclays.3

Financing
Leveraged. This offering reports mortgage debt on the property.
Chapter 7

What does the paperwork say?

One Form D — the SEC notice filed for a private offering — sits on the record, with no amendment following it, so the public file still reflects the offering as it was launched. The exemption used bars general advertising and effectively limits sales to accredited investors, those meeting SEC income or net-worth tests.

  1. 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.

Chapter 8

Common questions

Is ExchangeRight Net-Leased Portfolio 74 DST still raising money?

Top1031 lists ExchangeRight Net-Leased Portfolio 74 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 ExchangeRight Net-Leased Portfolio 74 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 this Trust still accepting investors?

No. The sponsor reports the offering fully subscribed, and the Real Estate Transition Solutions marketplace listing describes it as closed and not accepting new investors, so it now sits in the historical category. The only Form D on record was filed at launch on December 23, 2025 and has not been amended, so the filings themselves do not confirm when the raise filled. Confirm current availability with the sponsor or your representative.

Who are the tenants?

Baker 1031 Exchange identifies the tenants as CVS Pharmacy, Dollar General and Tractor Supply Company across the 11 buildings. Real Estate Transition Solutions reports the portfolio 100% leased with a weighted average remaining lease term of 16.16 years. The Form D itself names no tenants. Guarantor structure, lease-by-lease expirations and which tenant occupies which building would be set out in the Private Placement Memorandum (PPM), the offering document delivered to prospective investors.

Where are the properties?

The reported footprint spans nine states: North Carolina, California, Ohio, Michigan, Texas, Mississippi, Pennsylvania, Iowa and Nebraska, across 11 single-tenant retail buildings totaling roughly 198,705 square feet. Individual street addresses do not appear in the Form D, and the sources reviewed do not show how the buildings distribute among those states, so the property-by-property breakdown must come from the PPM.

Does the Trust carry debt, and who is the lender?

Yes. It is structured as a leveraged DST, meaning mortgage financing sits alongside the equity raised from investors, and that debt can serve as replacement debt for an exchanger who carried a mortgage on the relinquished property. Baker 1031 Exchange reports a $26.75 million non-recourse loan from Barclays within roughly $63.34 million of total capitalization, at 42.23% loan-to-value, fixed at 6.080% and interest-only for a ten-year term. The loan documents are not in the SEC record; the PPM and loan agreement govern.

What is the minimum investment?

The Form D filed December 23, 2025 states a minimum investment of $100,000. Broker-dealers and custodians sometimes apply higher minimums of their own, and the binding figure is the one stated in the PPM and subscription documents.

What does Rule 506(b) mean for me?

Rule 506(b) is a private-offering exemption under Regulation D. It bars general advertising and effectively limits sales to accredited investors — generally individuals with $200,000 in annual income ($300,000 with a spouse) or $1 million in net worth excluding a primary residence. Offerings sold this way are typically introduced through an existing relationship with a broker-dealer or registered representative.