Top1031

ExchangeRight Value-Add Portfolio 2 DST

Multifamily retail property · sponsored by ExchangeRight

HistoricalLast Form D filed Jan 29, 2024 (opens in a new tab)

ExchangeRight Value-Add Portfolio 2 DST was a DST sponsored by ExchangeRight that owned 12 multifamily retail properties. Its last Form D was filed Jan 29, 2024.

How it ended

No outcome recorded · under 7 years

The record lists the offering as fully subscribed; the last Form D was filed Jan 29, 2024.

ExchangeRight has 11 active offerings on record →

Key facts

Minimum investment
$100,000
From the Form D
Offering size
$28,200,000
Equity offered, per the Form D
Sold
82.7%
Form D, Jan 29, 2024; the % is our arithmetic
Investors reported
64
Form D, Jan 29, 2024
Selling commissions
$1,410,000 · 5.0% of offering
Form D Item 15; the % is our arithmetic
Financing
Not in the Form D. The Form D for this offering does not say whether it carries 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 Value-Add Portfolio 2 DST. Top1031 is not a broker-dealer.
ExchangeRight Value-Add Portfolio 2 DST image 1 of 2

ExchangeRight Value-Add Portfolio 2 DST · Photo: cdn-static.exchangeright.com

What did the Trust own?

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

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

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.

Debt

Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.

Costs and terms from the Form D

Selling commissions
$1,410,000 · 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
9 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Jun 20, 2022
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 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.

Legal Trust name
ExchangeRight Value-Add Portfolio 2 Parent DST
SEC CIK
1926817
First Form D
Jun 13, 2022
Latest Form D
Jan 29, 2024
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$28,200,000
$23,332,883+$23,332,883
64
EDGAR
Form D$28,200,000
$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 Value-Add Portfolio 2 DST?
ExchangeRight Value-Add Portfolio 2 DST is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Jan 29, 2024.
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. Trade press reported the same portfolio description on March 3, 2023. 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. 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. 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.
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. The January 29, 2024 amendment kept the same minimum.
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 offering documents.
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.

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.