Top1031

ExchangeRight Value-Add Portfolio 2 DST

Multifamily retail — sponsored by ExchangeRight

Files with the SEC as ExchangeRight Value-Add Portfolio 2 Parent DST

Minimum investment
$100k
Offering size
$28.2M
How much has sold
83.0%
Asset type
Multifamily retail
Location
Not stated
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 Value-Add Portfolio 2 DST is a Delaware statutory trust — a structure that lets 1031 exchange investors hold fractional interests in real estate.6 It holds in-line and outparcel shopping-center space across nine states.3 The parent trust registered a $28,200,000 offering with the SEC in June 2022.1 ExchangeRight announced on March 2, 2023 that investors had fully subscribed a $40.75 million offering.3

ExchangeRight Value-Add Portfolio 2 DST image 1 of 2
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These links support the historical public record; individual details may come from different sources.

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?

The trust holds in-line and outparcel retail space in centers shadow-anchored by long-term net-leased grocers and national retailers, with Kroger, Publix, Tractor Supply and Dollar Tree named as anchors that sit nearby but do not occupy the offering's buildings.3 The centers are spread across nine states.3 ExchangeRight reported that occupancy had risen to 90.9% as vacant space was leased.3 Street addresses, acquisition dates and prices are not in the located public record.

Property size
12 properties; 287,601 square feet
Chapter 3

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

More than 50 tenants occupy the space, so rent comes from many small shop leases rather than a single credit tenant.3 The grocery and big-box names the sponsor cites are shadow anchors — they anchor the centers' trade areas but are not tenants of these properties.3 Individual lease terms and expiration dates are not in the located public record.

Chapter 4

How did it end?

What happened

No sale or other ending on record

ExchangeRight's March 7, 2023 PRNewswire announcement identifies Value-Add Portfolio 2 DST and reports that, since launch, it reached 90.9% occupancy by leasing vacant space; no completed sale/full-cycle, 721/UPREIT exchange, or foreclosure is stated.

ExchangeRight reported a fully subscribed $40.75 million offering of 12 in-line shopping centers totaling 287,601 square feet, with more than 50 tenants across nine states and in-line/outparcel retail exposure. No exact individual property address or exact-property image was publicly verified.

12 properties; 287,601 square feet
Supporting evidence
Chapter 5

How is it financed, and what does it pay?

The Form D filings report the securities offered as equity and do not indicate a debt offering.2 Whether the underlying properties themselves carry mortgage debt is not established in the located public record.

Chapter 7

What does the paperwork say?

The initial Form D — the short SEC notice used for a private offering exempt from registration — reported a first sale on June 20, 2022, and a single later amendment updated the amounts sold and remaining.2 The trust is offered under Rule 506(b), which bars general advertising and limits sales to investors the sponsor already has a relationship with.

  1. First Form D filedThe public offering record begins.
  2. Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
Filings on record
2
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

What happened to ExchangeRight Value-Add Portfolio 2 DST?

Top1031 lists ExchangeRight Value-Add Portfolio 2 DST as historical. It is no longer raising money.

Where does Top1031 get the data for ExchangeRight Value-Add Portfolio 2 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.

What does this trust actually own?

ExchangeRight described the offering as 12 in-line shopping centers totaling 287,601 square feet across nine states, occupied by more than 50 tenants, with in-line and outparcel retail shadow-anchored by net-leased grocers and national retailers such as Kroger, Publix, Tractor Supply and Dollar Tree.[3] Trade press reported the same portfolio description on March 3, 2023.[5] Exact street addresses and the identities of the nine states were not established in the located public record.

Why does the SEC filing show $28.2 million while the sponsor says $40.75 million?

The two figures come from different documents and have not been reconciled by any source. The Form D filed with the SEC states a $28,200,000 total offering amount for ExchangeRight Value-Add Portfolio 2 Parent DST.[1] ExchangeRight's March 2, 2023 press release, and trade coverage the following day, describe a $40.75 million Value-Add Portfolio 2 DST that investors fully subscribed.[3] The parent trust that files with the SEC and the DST described in sponsor marketing may cover different slices of the capital stack; nothing in the located record explains the gap.

Can I still invest in this Trust?

ExchangeRight announced on March 2, 2023 that investors had fully subscribed the offering.[3] The most recent SEC amendment, filed January 29, 2024, still reported an unsold balance on the parent trust's registered amount.[2] Because the two records disagree, current availability would have to be confirmed directly with the sponsor or a selling broker-dealer.

What is the minimum investment?

The Form D filings report a $100,000 minimum outside investment, and the offering is limited to accredited investors — individuals or entities meeting the SEC's income, net worth, or professional criteria.[1] The January 29, 2024 amendment kept the same minimum.[2]

Is there a 721 exchange or UPREIT exit?

The record for this trust shows no 721/UPREIT feature — the arrangement in which a DST's property is later contributed to a REIT's operating partnership in exchange for units. Nothing in the located filings or sponsor materials describes such a conversion path for this offering. The exit route contemplated in the offering documents would be spelled out in the PPM, the private placement memorandum given to prospective investors.

What is not known about this Trust?

As of August 19, 2026, the located public record does not establish exact street addresses, the names of the nine states, which tenant occupies which center, lease expirations, the acquisition date or purchase price, or any property-level mortgage debt. No disposition, refinancing, or other outcome event has been located since the January 29, 2024 amendment.

Chapter 9

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