Net-Leased Portfolio 61 DST
Net lease property — sponsored by ExchangeRight
Files with the SEC as ExchangeRight Net-Leased Portfolio 61 DST
Minimum investment
$100k
Offering size
$62.5M
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 61 DST is a Delaware statutory trust — a structure letting 1031 exchange investors hold fractional real estate interests — that owns single-tenant net-leased grocery, pharmacy, medical, and other necessity-based buildings spread across 11 states.2 It is closed to new investors: ExchangeRight announced on August 31, 2023 that the $109.37 million offering was fully subscribed.2
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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 Portfolio 61 as a diversified pool of single-tenant buildings in 16 separate markets across 11 states, rather than as one property.2 Individual addresses and building names appear in neither the Form D nor the sponsor's announcement, so the portfolio is identified by its tenant mix — grocery, pharmacy, medical, and other necessity-based retail — rather than building by building. Acquisition dates and prices are not in the public record.
- Property size
- 16 properties; 377,666 square feet
Who is the tenant, and what's the lease?
There is no single tenant: ExchangeRight reports 12 tenants, naming CVS Pharmacy, Dollar General Market, Giant Eagle, Giant Food, Metro Market, Tractor Supply, and UnityPoint Health, on net leases — where the tenant carries property-level operating costs — with an 8.6-year weighted-average lease term at launch.2
How did it end?
No sale or other ending on record
No public full-cycle announcement has been found for ExchangeRight Net-Leased Portfolio 61 DST; ExchangeRight's published full-cycle returns document only covers Net-Leased Portfolio 28 (the 34th full-cycle event, completed November 2024), and the trust appears to still hold its net-leased properties following the December 2024 equity raise close.
a 16-property net-leased portfolio of grocery, pharmacy, medical, and other necessity-based national-tenanted properties; individual property names are not publicly identified. · 16 single-tenant net-leased retail, medical, and pharmacy properties totaling 377,666 sq ft across 11 states, leased to 12 recession-resilient tenants including CVS Pharmacy, Dollar General Market, Giant Eagle, Giant Food, Metro Market, Tractor Supply, and UnityPoint Health. Launched with a weighted-average lease term of 8.6 years and 42.86% loan-to-value using 5-year non-recourse interest-only debt. Targeted a 5.00% annualized monthly distribution.
16 properties; 377,666 square feetSupporting evidence
How is it financed, and what does it pay?
The Trust carries mortgage debt rather than owning the buildings free and clear. ExchangeRight reports non-recourse, interest-only financing, meaning the lender's remedy in a default is the real estate itself rather than investors' other assets, and no principal is amortized during the loan term.2 The lender is not named in public sources.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
ExchangeRight runs a serial 1031 program of numbered net-leased portfolios built around national, necessity-based tenants; this is the 61st in that series. The amended Form D names Joshua Ungerecht, David Fisher, and Warren Thomas as executive officers, with Thomas signing as manager.1 Beyond the 2023 full-subscription announcement, no later sponsor or press disclosure specific to this Trust was found.
- Sponsor
- ExchangeRight
- Legal Trust name
- ExchangeRight Net-Leased Portfolio 61 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?
ExchangeRight filed an original Form D — the short notice an issuer files for a private placement — when the Trust launched, then a single amendment reporting the completed sale nearly two years later. The offering relied on the private-placement exemption that bars general advertising and limits sales to accredited investors with whom the sponsor had a pre-existing relationship.
- 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 61 DST?
Top1031 lists Net-Leased Portfolio 61 DST as historical. It is no longer raising money.
Where does Top1031 get the data for Net-Leased Portfolio 61 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 Portfolio 61 DST?
No. The Trust is closed to new investors. ExchangeRight announced full subscription on August 31, 2023, and the amended Form D filed December 10, 2024 reported the offering as sold out with nothing remaining.
What would I have owned in this Trust?
A beneficial interest in a Delaware statutory trust that owns 16 single-tenant, net-leased retail, medical, and pharmacy buildings. In a DST the trustee holds title and makes property decisions; investors hold passive interests that the IRS treats as direct real property ownership for 1031 exchange purposes.
Where are the properties located?
ExchangeRight says the 16 properties sit in 16 separate markets across 11 states. Individual street addresses, city names, and the mapping of each tenant to each building were not disclosed in the Form D or in the sponsor's public announcement.
Why do two different offering sizes appear for this Trust?
ExchangeRight's August 31, 2023 announcement describes a $109.37 million offering, while the Form D reports the equity amount raised from investors. Public sources do not reconcile the two figures, and the Trust also carries mortgage debt.
Has there been a sale or other outcome reported?
No outcome has been reported yet. As of August 28, 2026, public sources show no full-cycle sale, refinancing, or other property-level event for this Trust after the 2023 full-subscription announcement and the December 2024 Form D amendment.
Was this Trust set up for a 721/UPREIT exit?
Top1031's record of the Trust shows no 721/UPREIT feature — that is, no contribution of the properties into a REIT in exchange for REIT operating-partnership units. Investors reviewing exit mechanics should read the private placement memorandum (PPM), the offering's governing disclosure document.
Chapter 9ExchangeRight Fully Subscribes $109M Net-Leased PortfolioTrade-press coverage of ExchangeRight's full subscription of Net-Leased Portfolio 61 DST, the $109.37 million offering of 377,666 sq ft net-leased to grocery, pharmacy, medical, and other necessity-based national tenants. ExchangeRight Fully Subscribes a $109 Million Offering Designed for Economic ResilienceExchangeRight announced full subscription of its $109.37 million Net-Leased Portfolio 61 DST, a 16-property, 377,666 sq ft, 12-tenant necessity-based net-lease offering diversified across 11 states. Net-Leased Portfolio 61 - Fully SubscribedSponsor-site video announcement that ExchangeRight has fully subscribed Net-Leased Portfolio 61 DST, a $109.37 million offering totaling 377,666 square feet net-leased to grocery, pharmacy, medical, and other necessity-based national tenants.