Net-Leased Portfolio 57 DST
Net lease property in North Wales, PA · sponsored by ExchangeRight
Net-Leased Portfolio 57 DST was a DST sponsored by ExchangeRight that owned 6 net lease properties in North Wales, PA. 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
- $30,450,000Equity offered, per the Form D
- Sold
- 100%Form D, Dec 9, 2024; the % is our arithmetic
- Investors reported
- Form D, Dec 9, 202464
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,522,500 · 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 57 DST. Top1031 is not a broker-dealer.Net-Leased Portfolio 57 DST · Photo: cdn-static.exchangeright.com
What did Net-Leased Portfolio 57 DST own?
The Trust holds necessity-retail and healthcare buildings spread across five states rather than a single address. 3 ExchangeRight publicly identified only one of them: a Wegmans Food Market in North Wales, Pennsylvania, which the sponsor said contributed 40.79% of the portfolio's net operating income. 3 The other five addresses, the acquisition prices and the individual lease expirations were not stated in the sources reviewed.
- Reported location
- North Wales, PA
- Property size
- 6 properties; 283,313 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 at launch that the portfolio carried fixed-rate, interest-only, non-recourse mortgage debt — non-recourse meaning the lender's remedy runs to the real estate rather than to investors personally. 3 The lender was not named in the sources reviewed.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $1,522,500 · 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
- 16 named in the Form D
Show the firms
- Arkadios Capital · CRD 282710
- Cabin Securities, Inc. · CRD 137608
- Capulent LLC · CRD 155155
- Client One Securities LLC · CRD 152974
- Concorde Investment Services, LLC · CRD 151604
- Emerson Equity LLC · CRD 130032
- FNEX Capital, LLC · CRD 166316
- Great Point Capital LLC · CRD 114203
- Investment Planners, Inc. · CRD 18557
- Lighthouse Capital Group, LLC · CRD 169135
- Lightpath Capital, Inc. · CRD 34617
- McDermott Investment Services, LLC · CRD 154926
- Purshe Kaplan Sterling Investments · CRD 35747
- Sanctuary Securities, Inc. · CRD 205
- Vanderbilt Securities, LLC · CRD 5953
- Wealthforge Securities, LLC · CRD 152550
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Aug 5, 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 57 DST?
ExchangeRight Real Estate is a Pasadena, California sponsor that assembles necessity-retail and healthcare net-lease portfolios into DSTs for 1031 exchangers. 1 It announced this Trust's full subscription on December 13, 2022, describing it as a $58.95 million portfolio — a gross figure that includes mortgage debt, and so is larger than the equity amount reported on the Form D. 3 No sale, disposition or other ending has been publicly announced.
- Sponsor
- Offerings on record
What does the SEC record show?
ExchangeRight filed the initial Form D — the brief notice an issuer files with the SEC for a private placement — at launch, then filed a single amendment more than two years later reporting the raise complete. 2
- Legal Trust name
- ExchangeRight Net-Leased Portfolio 57 DST
- SEC CIK
- 1937931
- First Form D
- Aug 2, 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 | $30,450,000 | $30,450,000+$30,450,000 | 64 | EDGAR | |
| Form D | $30,450,000 | $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 Portfolio 57 DST?
- Net-Leased Portfolio 57 DST is a Historical offering. The last Form D, filed Dec 9, 2024, reports the offering fully sold.
- What does the Trust actually own?
- Six long-term net-leased properties totaling 283,313 square feet across five states, per ExchangeRight's December 13, 2022 announcement. The sponsor identified a Wegmans Food Market in North Wales, Pennsylvania, and named Kroger, Walgreens and Fresenius Medical Care as other tenants. The remaining five addresses were not disclosed in the public sources reviewed.
- Why does the sponsor say $58.95 million when the SEC filing shows a smaller number?
- They measure different things. The Form D reports the equity raised from investors. The sponsor's $58.95 million figure describes the total portfolio value, which includes the mortgage debt placed on the properties at launch. Both can be accurate at the same time.
- Does this Trust have a 721/UPREIT exit?
- The record for this Trust does not show a 721 exchange or UPREIT feature — the structure in which a DST's property is later contributed to a REIT's operating partnership in exchange for units. Any exit mechanics that do exist would be governed by the offering documents.
- What is still not public about this offering?
- Five of the six property addresses, the full list of states, acquisition prices, the lender's identity and loan principal, occupancy, and individual lease expiration dates were not established in the reviewed public record. No post-2024 sale, refinancing or full-cycle result has been reported.
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.