Net-Leased All-Cash 9 DST
Net lease retail in Texas, IA — 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?
Net-Leased All-Cash 9 DST is a Delaware Statutory Trust — fractional real estate ownership that can serve as 1031 replacement property — holding five single-tenant retail buildings in Texas, Iowa, and Florida.1 Tractor Supply, Dollar Tree, and Dollar General Market are the tenants.1 The Trust carries no mortgage debt, and the offering is closed to new investors.2
Minimum investment
$100k
Offering size
$24.8M
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 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
Who is the tenant, and what's the lease?
Three tenants occupy the five buildings: Tractor Supply, Dollar Tree, and Dollar General Market.1 The leases are net — the tenant, not the Trust, carries property taxes, insurance, and maintenance. A third-party marketplace listing reported a weighted-average remaining lease term of 16.97 years.3
How did it end?
Still operating
$24,775,000 portfolio of 5 net-leased retail properties across 3 U.S. regions, 75,000+ rentable sq ft, 16.97-year weighted-average remaining lease term; current rate not stated in coverage. Filed Oct 23, 2024.
5 properties, 75,000+ sq ftSupporting evidence
Counted on ExchangeRight’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
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.
- Financing
- All cash. This offering reports no mortgage debt.
Who's behind it?
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
- 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?
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.
- 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 9 DST
- Filings on record
- 2
- How it may be offered
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- 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 9 DST?
Net-Leased All-Cash 9 DST is a Historical offering: its latest SEC 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 9 DST?
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 9 DST?
No. ExchangeRight announced the offering fully subscribed on April 29, 2025, and its own materials state the Trust is closed and not accepting new investors.[2] It is now a historical offering — the record here exists so exchangers can compare it against Trusts currently raising.
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.[1] Individual street addresses were not published in any exact-entity source reviewed as of September 13, 2026; a PPM 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.[4] 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 PPM.
Chapter 9ExchangeRight Fully Subscribes Five-Property, $24.78M All-Cash 9 DSTTrade-press headline archived on AltsWire confirming the five-property, $24.78 million All-Cash 9 DST full subscription. Net-Leased All-Cash 9 DST: Fully SubscribedSponsor-site video announcing the full subscription of Net-Leased All-Cash 9 DST, a $24.78 million portfolio of net-leased real estate backed by investment-grade necessity-retail tenants providing a 5.20% annualized distribution. ExchangeRight Fully Subscribes Net-Leased All-Cash 9 DSTSponsor release confirming full subscription of Net-Leased All-Cash 9 DST, a $24.775M, 5-property, 75,000+ sf net-leased retail portfolio across three U.S. regions with a 16.97-year weighted-average remaining lease term. ExchangeRight Fully Subscribes Five-Property, $24.78M All-Cash 9 DSTTrade-press article reporting full subscription of ExchangeRight's Net-Leased All-Cash 9 DST, a five-property portfolio totaling $24.78 million in Texas, Iowa, and Florida, tenanted by Tractor Supply, Dollar Tree, and Dollar General Market.