Net-Leased All-Cash 5 DST four-property net-leased portfolio
Net lease retail — sponsored by ExchangeRight
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These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
ExchangeRight Net-Leased All-Cash 5 DST is a Delaware statutory trust — a structure letting 1031 exchangers hold fractional real estate interests — that owns four net-leased retail buildings in Texas and Pennsylvania leased to The GIANT Company, Dollar General, and Dollar Tree.2 The portfolio carries no mortgage debt.2 ExchangeRight announced the offering fully subscribed on November 12, 2024, so it is closed to new investors.2
Minimum investment
$100k
Offering size
$18.3M
How much has sold
100.0%
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
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?
ExchangeRight assembled the portfolio from freestanding net-leased retail buildings located in Texas and Pennsylvania.2 The public record reviewed does not name the cities, say which tenant occupies which building, or disclose what ExchangeRight paid for each property. Occupancy percentages and individual acquisition dates likewise do not appear in the filings or sponsor materials reviewed.
- Property size
- 4 properties; 84,177 square feet
Who is the tenant, and what's the lease?
The buildings are leased to The GIANT Company, Dollar General, and Dollar Tree.2 ExchangeRight describes the properties as net-leased, meaning tenants rather than the Trust carry property-level operating costs. Lease expiration dates and remaining term are not stated in the public record reviewed.
How did it end?
Still operating
ExchangeRight Net-Leased All-Cash 5 DST was fully subscribed in November 2024 with a stated 721 UPREIT exit strategy into the Essential Income REIT, and no public full-cycle, sale, or UPREIT-completion announcement has been issued [1][2][3].
Net-lease retail portfolio: 4 properties, 84,177 sq ft, $18.33 million offering; tenants include The GIANT Company, Dollar General, and Dollar Tree; properties located in Texas and Pennsylvania; launched May 2024; structured as debt-free DST.
4 properties; 84,177 square feetSupporting evidence
Counted on ExchangeRight’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
No mortgage sits behind this portfolio — ExchangeRight described the offering as debt-free.2 Without a loan there is no lender maturity or refinancing deadline that could force a sale, and no borrowed money magnifying results in either direction.
- Financing
- All cash. This offering reports no mortgage debt.
Who's behind it?
ExchangeRight sponsors and manages the Trust.2 The firm runs one of the larger 1031 exchange platforms in net-leased retail and has closed a run of debt-free offerings; trade press described this one as the fifth all-cash ExchangeRight DST investors fully subscribed since April 2024. ExchangeRight announced that full subscription on November 12, 2024.2
- Sponsor
- ExchangeRight
- 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?
Two filings tell the whole story: an initial notice at launch, then an amendment reporting the raise complete. ExchangeRight reported a first sale of interests on June 24, 2024, and manager Warren Thomas signed the amendment.1 The Trust was offered privately, without general advertising, to accredited investors — people meeting the SEC's income or net-worth tests.
- First Form D filedThe public offering record begins.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Legal Trust name
- ExchangeRight Net-Leased All-Cash 5 DST
- 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.
Common questions
What happened to Net-Leased All-Cash 5 DST four-property net-leased portfolio?
Top1031 lists Net-Leased All-Cash 5 DST four-property net-leased portfolio in the Historical cohort because its latest filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for Net-Leased All-Cash 5 DST four-property net-leased 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 Net-Leased All-Cash 5 DST?
No. ExchangeRight announced on November 12, 2024 that the offering was fully subscribed and closed to new investors, and the sponsor's amended Form D reported no amount remaining. Interests in a closed DST occasionally change hands privately between accredited investors, but there is no active offering to subscribe to.
What does "all-cash" or "debt-free" mean here?
It means the Trust bought the properties without a mortgage. ExchangeRight described this offering as debt-free. For an investor, that removes lender-driven risks — no loan maturity, no refinancing deadline, no lender able to foreclose — and it also means the exchanger's replacement property carries no debt, which matters if your relinquished property had a loan you needed to replace.
Who are the tenants?
ExchangeRight reported that the four properties are leased to The GIANT Company, Dollar General, and Dollar Tree, across Texas and Pennsylvania. The public record reviewed does not map individual tenants to individual buildings or disclose each lease's expiration date, so those details would need to come from the PPM — the private placement memorandum, the offering's full disclosure document.
What exit did the sponsor describe?
ExchangeRight stated on November 12, 2024 that the strategy aims to provide a tax-deferred cash-out financing option, with potential 1031 or 721 exchange, cash-out, or a combination of those. A 721 exchange, or UPREIT, would swap DST interests for operating-partnership units in a REIT. No completed exit, sale, or refinance has been reported for this Trust in the records reviewed.
What is not in the public record for this Trust?
City-level addresses, tenant-to-building mapping, individual lease expirations or weighted-average lease term, a stated occupancy figure, and per-property acquisition prices are all absent from the SEC filings and sponsor materials reviewed. No sale, refinancing, 721 conversion, foreclosure, litigation, or tenant-change event has been reported either.
Chapter 9Investors Fully Subscribe Another ExchangeRight All-Cash DST Designed to Provide Strategic Exit OptionsSponsor announcement that the Net-Leased All-Cash 5 DST was fully subscribed, featuring a $18.33 million portfolio of four net-leased properties leased to GIANT Company, Dollar General, and Dollar Tree in Texas and Pennsylvania. Net-Leased All-Cash 5 DST: Fully SubscribedSponsor video confirming full subscription of the $18.33 million Net-Leased All-Cash 5 DST offering of net-leased real estate.