Net-Leased Portfolio 59
Net lease property — sponsored by ExchangeRight
Files with the SEC as ExchangeRight Net-Leased Portfolio 59 DST
Minimum investment
$100k
Offering size
$62.3M
How much has sold
100.0%
Asset type
Net lease property
Location
Not stated
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
ExchangeRight Net-Leased Portfolio 59 DST is a Delaware Statutory Trust — a passive co-ownership vehicle 1031 exchangers can buy into as replacement property — holding net-leased retail and medical buildings occupied by tenants including Mariano's, Walgreens, CVS Pharmacy and Fresenius Medical Care.1 ExchangeRight announced the $98,345,000 offering fully subscribed on July 27, 2023.1 The Trust is closed to new investors.
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These links support the historical public record; individual details may come from different 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 this portfolio as one of its numbered net-leased series, spreading single-tenant necessity retail and medical buildings across 15 separate markets.1 Public materials name the tenants but publish no street addresses and no state-by-state schedule, so the individual sites cannot be traced through the record. Year built, parking, and site-level detail for the buildings do not appear in the public record either.
- Property size
- 15 properties; 261,644 sq ft; 11 states
Who is the tenant, and what's the lease?
The sponsor named seven tenants — Mariano's, Walgreens, CVS Pharmacy, Dollar General, Dollar Tree, Tractor Supply and Fresenius Medical Care — under net leases, where the tenant rather than the Trust carries most property-level operating costs.1 ExchangeRight stated a weighted-average lease term of 11.4 years at launch.1 Individual lease expiration dates are not public.
How did it end?
No ending on record
ExchangeRight's July 2023 Portfolio 59 release only confirms that the offering was fully subscribed; its later track-record and full-cycle disclosures report 34 completed offerings and identify Portfolio 28 as the 34th, but the sources reviewed contain no Portfolio 59-specific post-raise disposition or affirmative continuing-ownership statement, so the ultimate outcome is unknown.
Diversified necessity-based net-leased retail portfolio (Mariano's, Walgreens, CVS, Dollar General, Dollar Tree, Tractor Supply, Fresenius Medical Care); $98.345M raise, financed with ~36.61% LTV 5-year interest-only non-recourse loan.
15 properties; 261,644 sq ft; 11 statesSupporting evidence
How is it financed, and what does it pay?
ExchangeRight reported placing interest-only, non-recourse debt on the portfolio: no principal amortizes during the loan term, and the lender's claim runs to the properties rather than to investors personally.1 The lender is not named in public materials.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
ExchangeRight sponsors a long-running series of numbered net-leased DST portfolios sold to accredited investors, and this Trust is one of them.1 The sponsor announced Portfolio 59 fully subscribed on July 27, 2023, and trade press covered the close days later.3 No Portfolio 59-specific property sale, refinancing, or distress event appears in public materials through August 2026.
- Sponsor
- ExchangeRight
- Legal Trust name
- ExchangeRight Net-Leased Portfolio 59 DST
- 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 initial Form D — the brief notice an issuer files with the SEC when it sells securities privately — opened the offering, and the later amendment reported it fully sold, with sales having begun October 21, 2022.2 The Trust was offered under Rule 506(b), the private-placement route that bars general advertising and relies on pre-existing relationships with accredited investors.
- First Form D filedThe public offering record begins.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 2
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- 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 Portfolio 59?
Top1031 lists Net-Leased Portfolio 59 as historical. It is no longer raising money.
Where does Top1031 get the data for Net-Leased Portfolio 59?
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 Portfolio 59?
No. ExchangeRight announced the Trust fully subscribed on July 27, 2023, and the Form D amendment filed December 9, 2024 reported the offering fully sold. It is closed to new investors and appears here as a historical record.
Why does ExchangeRight's $98,345,000 figure differ from the amount in the Form D?
The sponsor's July 27, 2023 press release describes a $98,345,000 offering, while the Form D filings report a smaller securities amount. Public materials reviewed as of August 25, 2026 do not reconcile the two figures, so the difference is not explained on the record.
What does owning a DST interest mean for my exchange?
A Delaware Statutory Trust holds title to the real estate, and investors own beneficial interests that are treated as real property for 1031 purposes. Ownership is fully passive: the trustee and sponsor make all leasing, financing, and sale decisions, and investors cannot direct them.
Who are the tenants and where are the buildings?
ExchangeRight named Mariano's, Walgreens, CVS Pharmacy, Dollar General, Dollar Tree, Tractor Supply and Fresenius Medical Care as the tenants, spread across 15 markets. Individual property addresses, a state-by-state schedule, and lease expiration dates were not published in the materials reviewed.
Has the portfolio been sold or refinanced?
No outcome has been reported. Research through August 25, 2026 found no public disposition, refinancing, distress event, or affirmative continuing-ownership statement specific to Portfolio 59 after the 2023 close.
What did the December 9, 2024 filing change?
It was a Form D/A amendment to the original notice. It updated the offering record to show the raise complete and reported the first sale date of October 21, 2022; it did not change the exemption used, which remained Rule 506.
Chapter 9ExchangeRight Wraps $98M Net Lease OfferingTrade-press coverage of NLP 59 final subscription covering 15 properties across 11 states. ExchangeRight Fully Subscribes $98 Million Net-Leased Portfolio Designed for Recession ResilienceAnnounces full subscription of NLP 59, a $98,345,000 diversified necessity-based net-leased retail portfolio across 11 states. Net-Leased Portfolio 59 - Fully SubscribedSponsor announcement that NLP 59 DST is fully subscribed.