Net-Leased Portfolio 56 DST
Net lease property in 19 states throughout the United States · sponsored by ExchangeRight
Net-Leased Portfolio 56 DST was a DST sponsored by ExchangeRight that owned 33 net lease properties in 19 states throughout the United States. Its last Form D, filed Dec 9, 2024, reports the offering fully sold.
How it ended
No outcome recorded · under 7 years
The last Form D, filed Dec 9, 2024, reports the offering fully sold.
Key facts
- Minimum investment
- $100,000From the Form D
- Offering size
- $72,835,000Equity offered, per the Form D
- Sold
- 100%Form D, Dec 9, 2024; the % is our arithmetic
- Investors reported
- Form D, Dec 9, 2024110
- Selling commissions
- Form D Item 15; the % is our arithmetic$3,641,750 · 5.0% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.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 Portfolio 56 DST. Top1031 is not a broker-dealer.Net-Leased Portfolio 56 DST · 19 states throughout the United States · Photo: cdn-static.exchangeright.com
What did Net-Leased Portfolio 56 DST own?
ExchangeRight assembled this as a diversified portfolio of single-tenant retail and pharmacy buildings rather than a single asset, and reported the properties 100 percent occupied and operating when the offering filled. 3 Public sources reviewed as of August 24, 2026 do not disclose street addresses, acquisition dates, per-property purchase prices, or a one-to-one property-and-tenant schedule.
- Reported location
- 19 states throughout the United States
- Property size
- 33 properties; 640,385 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?
ExchangeRight reported that the portfolio launched with non-recourse, fixed-rate, interest-only financing on a ten-year term — non-recourse meaning the lender's remedy in a default runs to the real estate, not to investors personally. 3 The lender's identity was not disclosed in the sources reviewed.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $3,641,750 · 5.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 23 named in the Form D
Show the firms
- Arkadios Capital · CRD 282710
- Aurora Securities · CRD 46147
- Cabin Securities, Inc. · CRD 137608
- Calton & Associates, Inc. · CRD 20999
- Concorde Investment Services, LLC · CRD 151604
- Dempsey Lord Smith, LLC · CRD 141238
- Emerson Equity LLC · CRD 130032
- FNEX Capital, LLC · CRD 166316
- Galt Financial Group, Inc. · CRD 146976
- Gramercy Securities, Inc. · CRD 8177
- Great Point Capital LLC · CRD 114203
- Kalos Capital, Inc. · CRD 44337
- Kingswood Capital Partners, LLC · CRD 288898
- Lighthouse Capital Group, LLC · CRD 169135
- Lion Street Financial, LLC · CRD 165828
- Madison Avenue Securities, LLC · CRD 23224
- McDermott Investment Services, LLC · CRD 154926
- NPB Financial Group, LLC · CRD 137743
- Realized Financial, Inc. · CRD 22333
- SCF Securities, Inc. · CRD 47275
- The Investment Center, Inc. · CRD 17839
- Western International Securities, Inc. · CRD 39262
- World Equity Group, Inc. · CRD 29087
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jun 30, 2022
- 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 Portfolio 56 DST?
ExchangeRight is a Pasadena, California sponsor that builds diversified net-leased portfolios sold as DST interests to 1031 exchange investors; the SEC record lists the Trust's business address as 1055 E. Colorado Blvd., Suite 310, Pasadena. 1 It is one of the more prolific repeat filers in the net-lease DST market, running numbered portfolio programs in sequence. ExchangeRight announced this portfolio's full subscription on November 3, 2022, coverage picked up the same week by PR Newswire and AltsWire. 3
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust filed an original Form D — the short SEC notice used for an exempt private placement — at launch, then a single amendment years later that recorded the offering as entirely sold with no amount remaining. 1 It was sold privately, without general advertising, to accredited investors reached through the sponsor's existing broker relationships.
- Legal Trust name
- ExchangeRight Net-Leased Portfolio 56 DST
- SEC CIK
- 1936856
- First Form D
- Jul 7, 2022
- Latest Form D
- Dec 9, 2024
- 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 | $72,835,000 | $72,835,000+$71,727,937 | 110+109 | EDGAR | |
| Form D | $72,835,000 | $1,107,063 | 1 | 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 Portfolio 56 DST?
- Net-Leased Portfolio 56 DST is a Historical offering. The last Form D, filed Dec 9, 2024, reports the offering fully sold.
- Who are the tenants?
- Blue Vault reported on November 22, 2022 that the 33 properties were leased to 13 distinct tenants, including nine CVS Pharmacy locations, Woods Supermarket, Family Dollar and Scheels All Sports. ExchangeRight's own announcement stated the nine CVS locations contributed 28 percent of net operating income. A full property-by-property tenant schedule is not public.
- How was the portfolio financed?
- ExchangeRight stated in its November 3, 2022 announcement that the offering launched at 44.95 percent loan-to-value with non-recourse, interest-only financing fixed at 5.368 percent over a ten-year term. The lender was not named in public sources reviewed as of August 24, 2026.
- Why does the sponsor's $132.30 million figure differ from the SEC filing amount?
- They come from different documents measuring different things. ExchangeRight's announcement describes the total portfolio offering at $132.30 million, while the Form D reports the securities amount registered under that exemption. Public records reviewed do not reconcile the two, so Top1031 shows the SEC figure in the sales section and reports the sponsor figure separately.
In the news
Sources
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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.