Net-Leased All-Cash 9 DST
Net lease retail property in Texas, IA · sponsored by ExchangeRight
Net-Leased All-Cash 9 DST was a DST sponsored by ExchangeRight that owned 5 net lease retail properties in Texas, IA. Its last Form D, filed Aug 6, 2025, reports the offering fully sold.
How it ended
No outcome recorded · under 7 years
The last Form D, filed Aug 6, 2025, reports the offering fully sold.
Key facts
- Minimum investment
- $100,000From the Form D
- Offering size
- $24,775,000Equity offered, per the Form D
- Sold
- 100%Form D, Aug 6, 2025; the % is our arithmetic
- Investors reported
- Form D, Aug 6, 202538
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,238,750 · 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 →
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 9 DST. Top1031 is not a broker-dealer.What did Net-Leased All-Cash 9 DST own?
ExchangeRight assembled five single-tenant retail buildings across Texas, Iowa, and Florida into one Trust. 1 A third-party marketplace listing reported all five as fully leased to three tenants. 3 As of research conducted September 13, 2026, the sponsor had not published individual street addresses, acquisition dates, or purchase prices, so the portfolio's cost basis and building vintages are not on the public record.
- Reported location
- Texas, IA
- Property size
- 5 properties, 75,000+ 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 took title without a mortgage, so there is no lender, no loan maturity, and no refinancing deadline hanging over the portfolio. What that removes is lender risk; what remains is tenant credit and property risk, since rent is the only source of cash.
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $1,238,750 · 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
- 11 named in the Form D
Show the firms
- Arkadios Capital · CRD 282710
- Aurora Securities · CRD 46147
- ClearFP Securities, LLC · CRD 312370
- Concorde Investment Services, LLC · CRD 151604
- Emerson Equity LLC · CRD 130032
- FNEX Capital, LLC · CRD 166316
- Lighthouse Capital Group, LLC · CRD 169135
- RM Securities, LLC · CRD 323671
- Realized Financial, Inc. · CRD 22333
- SCF Securities, Inc. · CRD 47275
- Wealthforge Securities, LLC · CRD 152550
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Oct 28, 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 Net-Leased All-Cash 9 DST?
ExchangeRight builds Delaware Statutory Trusts around necessity-retail tenants on long net leases, and this is the ninth-numbered offering in its all-cash, unleveraged series. The sponsor announced this Trust fully subscribed on April 29, 2025. 1 AltsWire reported on May 12, 2025 that ExchangeRight had also fully subscribed its $40.8 million Net-Leased All-Cash 11 DST, showing the series continued after this one closed. 5
- Sponsor
- Offerings on record
What does the SEC record show?
The paper trail is short: an original Form D at launch and a single amendment reporting the raise complete. The Trust was offered privately, without general advertising, to accredited investors — people meeting SEC income or net-worth thresholds — with whom the sponsor had a prior relationship.
- Legal Trust name
- ExchangeRight Net-Leased All-Cash 9 DST
- SEC CIK
- 2040385
- First Form D
- Oct 23, 2024
- Latest Form D
- Aug 6, 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 | $24,775,000 | $24,775,000+$24,775,000 | 38 | EDGAR | |
| Form D | $24,775,000 | $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 9 DST?
- Net-Leased All-Cash 9 DST is a Historical offering. The last Form D, filed Aug 6, 2025, reports the offering fully sold.
- What does "all cash" mean for this Trust?
- It means the properties were bought without mortgage financing. There is no lender, no loan maturity date, and no refinancing event to survive, which removes a common source of DST trouble. It also means an investor's entire exchange basis is equity — no debt is placed on the portfolio to help satisfy a 1031 exchange's debt-replacement requirement.
- Who are the tenants and where are the buildings?
- Tractor Supply, Dollar Tree, and Dollar General Market occupy the five buildings, which sit in Texas, Iowa, and Florida. Individual street addresses were not published in any exact-entity source reviewed as of September 13, 2026; offering documents or the sponsor would be the place to get the specific parcels.
- What exit did the sponsor describe?
- AltsWire reported that the stated exit strategy contemplated potential tax-deferred cash-out financing and possible 1031 or 721 exchange options — a 721 exchange being a contribution of the property into a REIT's operating partnership in return for units — while the sponsor noted its objectives and any future financing were not guaranteed. Top1031's record for this Trust lists no REIT conversion feature.
- What do the SEC filings actually tell me?
- Two Form D filings exist: the original notice filed when the offering launched and one amendment updating the sale figures. A Form D is a short notice of an exempt private offering — it reports the offering size, sales to date, investor count, and minimum investment. It does not include property addresses, lease terms, appraisals, or fees; those live in the offering documents.
In the news
As reported by the sponsor · ExchangeRight Real Estate ↗
Sources
Show sources (6)Hide sources (6)
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.