Net-Leased All-Cash 18 DST diversified portfolio
Net-leased retail/healthcare in Multi-state (5) — sponsored by ExchangeRight
Files with the SEC as ExchangeRight Net-Leased All-Cash 18 DST
Minimum investment
$100k
Offering size
$52.8M
How much has sold
None sold yet
Asset type
Net-leased retail/healthcare
Location
Multi-state (5)
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
ExchangeRight Net-Leased All-Cash 18 DST is a Delaware statutory trust — a passive co-ownership structure whose interests can serve as replacement property in a 1031 exchange.1 It owns debt-free net-leased healthcare and retail buildings occupied by BioLife Plasma Services and Tractor Supply Company.2 ExchangeRight announced on June 18, 2026 that the offering was fully subscribed and closed to new investors.2
$52.78M debt-free; 5.15% dist; WALT 12.0yr; 20-yr REIT OP master lease; BioLife Plasma, Tractor Supply
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These links support the public record as a whole; individual details may come from different sources.
Florida; Texas; Alabama; Michigan; Georgia · 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.
What exactly is the property?
The Trust holds single-tenant net-leased healthcare and retail buildings spread across Florida, Texas, Alabama, Michigan, and Georgia rather than one asset in one market.2 Sponsor material does not allocate the buildings between BioLife Plasma Services and Tractor Supply Company, and no street addresses, per-building square footages, acquisition dates, or purchase prices appear anywhere in the reviewed public record.
- Reported location
- Multi-state (5)
- Property size
- 6 properties; 110,430 square feet
Who is the tenant, and what's the lease?
The buildings are net-leased to BioLife Plasma Services and Tractor Supply Company, meaning the tenants — not the Trust — carry taxes, insurance, and maintenance.2 Rent reaches investors through a 20-year master lease guaranteed by the Essential Income REIT's Operating Partnership, and the sponsor reported an initial weighted-average lease term of 12.0 years.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.
The sponsor reported this offering sold out without filing per-sale amendments, so there is no raise history to show.
How is it financed, and what does it pay?
The Trust acquired its properties without a mortgage, so there is no lender, no loan maturity, and no refinancing event to survive.2 For a 1031 exchanger, that also means the Trust passes through no debt to replace mortgage debt retired on a relinquished property.
- Financing
- All cash. This offering reports no mortgage debt.
Who's behind it?
ExchangeRight Real Estate is the sponsor, one of the more prolific net-leased DST sponsors, assembling portfolios around retail and healthcare tenants. It announced full subscription of its $90.67 million Net-Leased Portfolio 73 DST on July 15, 2026, and on July 22, 2026 named Ross Wood Director of Acquisitions for industrial investments, extending its sourcing into distribution and logistics facilities. AltsWire reported on August 18, 2026 that the successor Net-Leased All-Cash 19 DST was also fully subscribed.
- Sponsor
- ExchangeRight
- Legal Trust name
- ExchangeRight Net-Leased All-Cash 18 DST
- 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?
The SEC paper trail never grew after the offering's initial notice — no amendment followed — so the public record still reflects the offering as first filed, even though ExchangeRight announced full subscription on June 18, 2026.2 Interests were sold privately, without general advertising, to accredited investors 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.
Common questions
Is Net-Leased All-Cash 18 DST diversified portfolio still raising money?
Top1031 lists Net-Leased All-Cash 18 DST diversified portfolio 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 Net-Leased All-Cash 18 DST diversified portfolio?
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.
Can I still invest in this Trust?
No. ExchangeRight announced on June 18, 2026 that Net-Leased All-Cash 18 DST was fully subscribed, closed, and not accepting new investors.[2] It is a historical offering — useful as a comparison point when reviewing the sponsor's currently open DSTs, but not available as replacement property today.
Why doesn't the SEC filing reflect the full subscription?
Only one Form D was filed, on November 3, 2025, and it was never amended.[1] Sponsors are not required to update Form D sales figures continuously, so the figures shown in the rows here reflect that original notice rather than the closed offering ExchangeRight announced on June 18, 2026.[2]
What does a debt-free or all-cash DST mean for my exchange?
The Trust owns its properties without a mortgage, so there is no lender, no loan covenants, and no refinancing risk at the trust level.[2] It also means the investment passes through no mortgage debt. If you had debt on your relinquished property, you generally need to replace that value with additional cash or other replacement property to avoid boot.
Who are the tenants?
BioLife Plasma Services and Tractor Supply Company occupy the portfolio's net-leased buildings across Florida, Texas, Alabama, Michigan, and Georgia.[2] The sponsor's public materials do not say how many buildings each tenant occupies, so that split has to be confirmed in the PPM — the private placement memorandum that governs the offering.
What is the 20-year master lease, and who guarantees it?
Instead of collecting rent directly from each tenant, the Trust leases the whole portfolio to a master tenant, which in turn holds the tenant leases. Here the 20-year master lease is guaranteed by the Essential Income REIT's Operating Partnership.[2] The guarantor's financial strength and the guarantee's precise scope are PPM items to read closely.
Does the public record say anything about how this Trust would eventually be sold or exited?
Not in the filings. The single Form D addresses only the exempt offering, and no amendment or later SEC filing describes a disposition, sale, or REIT contribution.[1] Any exit alternatives, including whether interests could ever be contributed to a REIT operating partnership in a 721 exchange — a swap of property for operating-partnership units — are governed by the PPM and trust agreement.
Chapter 9ExchangeRight Extends Run of Fully Funded DSTs With $52.8M CloseConnect Money trade-press report that ExchangeRight extended its streak of fully funded DSTs with the $52.78 million Net-Leased All-Cash 18 DST closing, featuring BioLife Plasma and Tractor Supply tenants across five states. ExchangeRight Fully Subscribes $52.78 Million Net-Leased All-Cash 18 DSTExchangeRight announced full subscription of its $52.78 million debt-free Net-Leased All-Cash 18 DST, a six-property portfolio of net-leased retail and healthcare across Florida, Texas, Alabama, Michigan, and Georgia tenanted by BioLife Plasma Services and Tractor Supply, paying a 5.15% current annualized rate under a 20-year REIT OP master lease.