Top1031

Net-Leased All-Cash 10 DST

Net lease retail property · sponsored by ExchangeRight

HistoricalLast Form D filed Nov 18, 2024 (opens in a new tab)

Net-Leased All-Cash 10 DST was a DST sponsored by ExchangeRight that owned a net lease retail property. Its last Form D was filed Nov 18, 2024.

How it ended

No outcome recorded · under 7 years

The record lists the offering as fully subscribed; the last Form D was filed Nov 18, 2024.

ExchangeRight has 11 active offerings on record →

Key facts

Minimum investment
$100,000
From the Form D
Offering size
$28,485,000
Equity offered, per the Form D
Sold
Not reported after the first Form D (Nov 18, 2024)
Form D, Nov 18, 2024
Selling commissions
$439,136 · 1.5% of offering
Form D Item 15; the % is our arithmetic
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 →

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: Net-Leased All-Cash 10 DST. Top1031 is not a broker-dealer.
Net-Leased All-Cash 10 DST image

Net-Leased All-Cash 10 DST · Photo: cdn-static.exchangeright.com

What did Net-Leased All-Cash 10 DST own?

ExchangeRight assembled a group of single-tenant net-leased retail buildings across Texas and Arizona and placed them into one Delaware Statutory Trust. 1 The public record reviewed for this profile does not establish street addresses, how the buildings split between the two states, acquisition dates, or purchase prices. A third-party marketplace listing describes them as fully leased to four tenants. 2

Property size
5 properties, 124,641 sq ft

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 trust owns its real estate debt-free. There is no mortgage, no lender, and no loan maturity that could force a sale or a refinancing at an inconvenient moment — and equally no borrowing to amplify results in either direction.

Debt

Financing
All cash. This offering reports no mortgage debt.

Costs and terms from the Form D

Selling commissions
$439,136 · 1.5% 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
1 named in the Form D
Show the firms

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.

What does the SEC record show?

A Form D is only a short notice of an exempt securities sale, not a registration, and this one was never amended — so the sale figures on EDGAR stayed at their day-one state while the sponsor separately announced full subscription. 1 The exemption claimed limits buyers to accredited investors and bars general advertising.

Legal Trust name
ExchangeRight Net-Leased All-Cash 10 DST
SEC CIK
2045158
First Form D
Nov 18, 2024
Latest Form D
Nov 18, 2024
Filings on record
1
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 sold
Form D$28,485,000
$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 Net-Leased All-Cash 10 DST?
Net-Leased All-Cash 10 DST is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Nov 18, 2024.
What does "all-cash" mean for a DST like this one?
It means the trust bought the properties without mortgage debt. Investors take no lender risk, face no loan maturity that could force a sale or refinancing, and there is no leverage magnifying results. A third-party marketplace listing reports the offering as having no debt and a 0.00% loan-to-value ratio.
Who are the tenants and how long do their leases run?
ExchangeRight reported the tenants as Tractor Supply, Dollar Tree, Hobby Lobby and Dollar General Market, with the portfolio carrying an initial weighted-average lease term of 14.7 years as of its April 15, 2025 full-subscription announcement. A secondary listing cited a slightly different remaining term of 14.65 years; the two figures are reported as published, not reconciled.
Is there a 721/UPREIT exit path?
The Top1031 record shows no REIT conversion feature for this trust — meaning there is no disclosed mechanism to contribute the property into a REIT operating partnership in exchange for OP units. Any exit terms would be spelled out in the offering documents.
Where exactly are the five buildings?
Texas and Arizona, per ExchangeRight's April 15, 2025 release. Neither the sponsor release, trade coverage, nor the SEC filing reviewed for this profile discloses street addresses or how the buildings divide between the two states.

In the news

Sources

Show sources (4)Hide sources (4)

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

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.