Net-Leased All-Cash 5 DST four-property net-leased portfolio
Net lease retail property · sponsored by ExchangeRight
Net-Leased All-Cash 5 DST four-property net-leased portfolio was a DST sponsored by ExchangeRight that owned 4 net lease retail properties. Its last Form D, filed Aug 5, 2025, reports the offering fully sold.
How it ended
No outcome recorded · under 7 years
The last Form D, filed Aug 5, 2025, reports the offering fully sold.
Key facts
- Minimum investment
- $100,000From the Form D
- Offering size
- $18,330,000Equity offered, per the Form D
- Sold
- 100%Form D, Aug 5, 2025; the % is our arithmetic
- Investors reported
- Form D, Aug 5, 202546
- Selling commissions
- Form D Item 15; the % is our arithmetic$916,500 · 5.0% of offering
- 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 →
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Ask a 1031 specialist about this recordFree. About: Net-Leased All-Cash 5 DST four-property net-leased portfolio. Top1031 is not a broker-dealer.Net-Leased All-Cash 5 DST four-property net-leased portfolio · Photo: cdn-static.exchangeright.com
What did the Trust own?
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
Tenant and lease terms are not in the SEC filings or cited sources.
How was it financed, and what did it cost to sell?
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.
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $916,500 · 5.0% of offering
- Finders’ fees
- Not in the Form D
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 10 named in the Form D
Show the firms
- Arkadios Capital · CRD 282710
- Aurora Securities · CRD 46147
- FNEX Capital, LLC · CRD 166316
- Lighthouse Capital Group, LLC · CRD 169135
- Lightpath Capital, Inc. · CRD 34617
- Pinnacle Capital Securities, LLC · CRD 106213
- RM Securities, LLC · CRD 323671
- Saxony Securities, Inc. · CRD 115547
- Third Seven Capital LLC · CRD 160209
- Vanderbilt Securities, LLC · CRD 5953
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jun 24, 2024
- 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.
Who's behind the Trust?
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
- Offerings on record
What does the SEC record show?
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.
- Legal Trust name
- ExchangeRight Net-Leased All-Cash 5 DST
- SEC CIK
- 2021986
- First Form D
- May 24, 2024
- Latest Form D
- Aug 5, 2025
- Filings on record
- 2
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $18,330,000 | $18,330,000+$18,330,000 | 46 | EDGAR | |
| Form D | $18,330,000 | $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 5 DST four-property net-leased portfolio?
- Net-Leased All-Cash 5 DST four-property net-leased portfolio is a Historical offering. The last Form D, filed Aug 5, 2025, reports the offering fully sold.
- 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 offering documents.
- 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.
In the news
Sources
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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.