Net-Leased Portfolio 66 DST
Net lease retail property · sponsored by ExchangeRight
Net-Leased Portfolio 66 DST was a DST sponsored by ExchangeRight that owned 11 net lease retail properties. Its last Form D, filed Aug 6, 2025, reports the offering fully sold.
How it ended
No outcome recorded · under 7 years
The last Form D, filed Aug 6, 2025, reports the offering fully sold.
Key facts
- Minimum investment
- $100,000From the Form D
- Offering size
- $63,750,000Equity offered, per the Form D
- Sold
- 100%Form D, Aug 6, 2025; the % is our arithmetic
- Investors reported
- Form D, Aug 6, 2025142
- Selling commissions
- Form D Item 15; the % is our arithmetic$3,187,500 · 5.0% of offering
- Financing
- Sources disagreeThe financing classification on record says leveraged (mortgage debt); the profile says “debt-free”. 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 66 DST. Top1031 is not a broker-dealer.Net-Leased Portfolio 66 DST · Photo: mma.prnewswire.com
What did Net-Leased Portfolio 66 DST own?
ExchangeRight assembled this portfolio from single-tenant retail and distribution buildings spread across eight states and leased to seven tenants the sponsor describes as historically recession-resilient. 2 A marketplace listing places the buildings in four U.S. regions and describes them as fully leased. 3 No public source located discloses the individual street addresses, the tenant-by-tenant schedule, or when and for how much each building was acquired.
- Property size
- 11 properties; 507,017 rentable sq ft total
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's full-subscription release described the portfolio as launched with non-recourse, interest-only senior debt fixed for a five-year term; non-recourse means the lender's remedy runs to the property, not to investors personally. 2 That description sits alongside a debt-free characterization of the same portfolio elsewhere in the record. The offering documents govern.
Debt
- Financing
- Sources disagree The financing classification on record says leveraged (mortgage debt); the profile says “debt-free”.
Costs and terms from the Form D
- Selling commissions
- $3,187,500 · 5.0% of offering
- Finders’ fees
- Not in the Form D
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 27 named in the Form D
Show the firms
- Ameritas Investment Company, LLC · CRD 14869
- Arkadios Capital · CRD 282710
- Aurora Securities · CRD 46147
- Cabin Securities, Inc. · CRD 137608
- Cadaret, Grant & Co., Inc. · CRD 10641
- Client One Securities LLC · CRD 152974
- Concorde Investment Services, LLC · CRD 151604
- Dempsey Lord Smith, LLC · CRD 141238
- Emerson Equity LLC · CRD 130032
- FNEX Capital, LLC · CRD 166316
- Great Point Capital LLC · CRD 114203
- Kingswood Capital Partners, LLC · CRD 288898
- Lighthouse Capital Group, LLC · CRD 169135
- Lightpath Capital, Inc. · CRD 34617
- Lion Street Financial, LLC · CRD 165828
- Madison Avenue Securities, LLC · CRD 23224
- McDermott Investment Services, LLC · CRD 154926
- Metric Financial, LLC · CRD 33324
- NEXT Financial Group, Inc. · CRD 46214
- Newbridge Securities Corporation · CRD 104065
- Peak Brokerage Services, LLC · CRD 157045
- Purshe Kaplan Sterling Investments · CRD 35747
- Realized Financial, Inc. · CRD 22333
- Saxony Securities, Inc. · CRD 115547
- Western International Securities, Inc. · CRD 39262
- Wilmington Capital Securities, LLC · CRD 133839
- World Equity Group, Inc. · CRD 29087
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jan 29, 2024
- 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 66 DST?
ExchangeRight sponsors a numbered series of net-leased DST portfolios; this is the 66th, and the trust behind it was organized as a Delaware business trust in 2023. 5 On September 17, 2024 the sponsor announced the portfolio fully subscribed, framing the series around tenants it calls historically recession-resilient. 2 ExchangeRight's own video page for the Trust lists it as a closed offering not accepting new investors. 4
- Sponsor
- Offerings on record
What does the SEC record show?
The initial Form D — the brief SEC notice an issuer files for a private placement — reported no sales yet and no first sale date. 5 The sole amendment, signed August 5, 2025, reported a first sale of January 29, 2024 and nothing left to sell. 1 Rule 506(b) bars general advertising and limits sales to accredited investors.
- Legal Trust name
- ExchangeRight Net-Leased Portfolio 66 DST
- SEC CIK
- 2006693
- First Form D
- Jan 17, 2024
- Latest Form D
- Aug 6, 2025
- 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 | $63,750,000 | $63,750,000+$63,750,000 | 142 | EDGAR | |
| Form D | $63,750,000 | $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 66 DST?
- Net-Leased Portfolio 66 DST is a Historical offering. The last Form D, filed Aug 6, 2025, reports the offering fully sold.
- What does the Trust actually own?
- Eleven single-tenant net-leased retail and distribution properties spread across eight states, leased to seven tenants that ExchangeRight describes as historically recession-resilient, including FedEx, Hy-Vee, Stop & Shop and Tractor Supply. No public source located in research discloses the individual street addresses or which tenant occupies which building.
- Is the portfolio leveraged or all cash?
- The record is inconsistent. ExchangeRight's September 17, 2024 release described the DST as launched with non-recourse, interest-only senior debt fixed for a five-year term, while a debt-free description of the same portfolio also appears in the record. The offering documents and closing documents control; an investor or their adviser would confirm there.
- What kind of leases are in place?
- A marketplace listing describes the 11 properties as fully leased under corporate-guaranteed net leases with a 10.8-year weighted-average remaining term. In a net lease, the tenant rather than the landlord carries most operating costs, such as taxes, insurance and maintenance, depending on the specific lease. That listing is a secondary source and its figures are not audited.
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.