Net-Leased Portfolio 64 DST
Net lease retail — sponsored by ExchangeRight
Files with the SEC as ExchangeRight Net-Leased Portfolio 64 DST
Minimum investment
$100k
Offering size
$53.3M
How much has sold
100.0%
Asset type
Net lease retail
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 64 DST is a closed Delaware statutory trust — a structure that lets 1031 exchange investors own a fractional interest in real estate — holding a portfolio of single-tenant necessity-retail and distribution buildings leased to national operators. ExchangeRight announced the offering fully subscribed on April 23, 2024, and it no longer accepts new investors.1
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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?
The Trust holds single-tenant necessity-retail and distribution buildings that ExchangeRight assembled into one diversified portfolio for exchange investors. The sponsor describes the holdings as spread across 14 markets in 12 states, with six tenant operators.2 Public sources reviewed did not establish individual street addresses, years built, or when ExchangeRight acquired each building, so those details live in the offering documents rather than the public record.
- Property size
- 15 properties; 444,457 square feet
Who is the tenant, and what's the lease?
ExchangeRight names six operators in the portfolio: FedEx, Tractor Supply, Hobby Lobby, Dollar General, Dollar General Plus, and a Family Dollar/Dollar Tree combination store.2 The properties are net leased, meaning tenants carry most property-level costs such as taxes, insurance, and upkeep. Individual lease expirations and remaining term were not established in public sources.
How did it end?
No sale or other ending on record
No full-cycle or sale announcement exists; ExchangeRight announced the $89.2 million Net-Leased Portfolio 64 DST as 'Fully Subscribed' on April 23, 2024, and the trust remains in its operating hold period consistent with ExchangeRight's typical ~5-year DST hold.
15 properties; 444,457 square feet
Supporting evidence
How is it financed, and what does it pay?
ExchangeRight placed non-recourse, interest-only, fixed-rate mortgage debt on the portfolio, so the lender's remedy runs to the properties rather than to investors personally.2 The rate, loan-to-value, and loan term appear in the sponsor's materials and in the PPM — the private placement memorandum that governs the offering.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
ExchangeRight assembles portfolios of net-leased necessity-retail and distribution buildings into DSTs for 1031 exchange investors, and Portfolio 64 is one entry in a long numbered series. The firm announced this Trust fully subscribed on April 23, 2024, describing it as a closed offering not accepting new investors.1 It announced full subscription of a separate 24-property net-leased portfolio in the same period.3
- Sponsor
- ExchangeRight
- Legal Trust name
- ExchangeRight Net-Leased Portfolio 64 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 the original Form D — the brief SEC notice for a private offering — at launch, then a single amendment reporting the raise complete. The Trust was offered under Rule 506(b), which bars public advertising and limits sales to accredited investors. The amendment reports a first sale date of August 21, 2023.4
- 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 64 DST?
Top1031 lists Net-Leased Portfolio 64 DST as historical. It is no longer raising money.
Where does Top1031 get the data for Net-Leased Portfolio 64 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 64 DST?
No. ExchangeRight announced on April 23, 2024 that the Trust was fully subscribed and closed to new investors, and the amended Form D filed August 6, 2025 reports nothing remaining. Investors mid-exchange would need to look at ExchangeRight's currently open offerings or another sponsor's.
What does the Trust actually own?
A portfolio of 15 single-tenant net-leased properties totaling 444,457 square feet, which ExchangeRight describes as spread across 14 markets in 12 states. Named operators are FedEx, Tractor Supply, Hobby Lobby, Dollar General, Dollar General Plus, and a Family Dollar/Dollar Tree combination store. Individual addresses were not established in the public record.
Why does ExchangeRight describe this as an $89.2 million portfolio when the SEC filing shows a smaller number?
ExchangeRight's April 2024 announcement uses $89.2 million to describe the offering including mortgage debt. The Form D reports only the equity securities sold to investors, which is the smaller figure. Neither source reconciles the other; both are preserved here as filed and as announced.
Is there a 721/UPREIT exit?
The record shows no REIT conversion feature for this Trust. A 721/UPREIT exit is a structure where a DST's property is contributed to a real estate investment trust's operating partnership in exchange for partnership units, deferring tax again. Anyone relying on such a feature should confirm terms in the PPM.
Has the portfolio been sold or produced a reported outcome?
No outcome has been reported yet. Public sources reviewed through August 31, 2026 do not establish a sale, full-cycle event, refinancing, or distress event for this Trust beyond the Form D/A confirming the raise closed.
What does Rule 506(b) mean for this offering?
Rule 506(b) is the private-placement exemption that lets a sponsor sell without registering with the SEC, but prohibits general solicitation or advertising and effectively limits sales to accredited investors — those meeting SEC income or net-worth thresholds — with whom the sponsor has a pre-existing relationship.
Chapter 9ExchangeRight Fully Subscribes a $89.2 Million Net-Leased Portfolio Designed for StabilityExchangeRight announces the full subscription of its $89.2 million Net-Leased Portfolio 64 DST, a 15-property, 444,457-square-foot necessity-retail offering net-leased to tenants including FedEx, Tractor Supply, Hobby Lobby, Dollar General, Family Dollar, and Dollar Tree, with a 5.00% current annualized distribution. ExchangeRight Fully Subscribes a $89.2 Million Net-Leased Portfolio Designed for StabilityExchangeRight announced full subscription of Net-Leased Portfolio 64 DST, an $89.2M, 444,457 sq ft offering of necessity-based retail across 15 properties, 14 markets, 12 states and 6 tenants; 40.27% LTV with non-recourse interest-only financing at 5.80% fixed over 5 years.