Top1031

Net-Leased Portfolio 68 DST

Net lease retail property · sponsored by ExchangeRight

HistoricalLast Form D filed Aug 26, 2024 (opens in a new tab)

Net-Leased Portfolio 68 DST was a DST sponsored by ExchangeRight that owned 16 net lease retail properties. Its last Form D was filed Aug 26, 2024.

How it ended

No outcome recorded · under 7 years

The record lists the offering as fully subscribed; the last Form D was filed Aug 26, 2024.

ExchangeRight has 11 active offerings on record →

Key facts

Minimum investment
$100,000
From the Form D
Offering size
$65,300,000
Equity offered, per the Form D
Sold
Not reported after the first Form D (Aug 26, 2024)
Form D, Aug 26, 2024
Selling commissions
$3,265,000 · 5.0% of offering
Form D Item 15; the % is our arithmetic
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 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: Net-Leased Portfolio 68 DST. Top1031 is not a broker-dealer.
Net-Leased Portfolio 68 DST image

Net-Leased Portfolio 68 DST · Photo: cdn-static.exchangeright.com

What did Net-Leased Portfolio 68 DST own?

ExchangeRight assembled this Trust from single-tenant buildings spread over 16 markets in 10 states, so no single store or region stands behind the whole portfolio. 2 The sponsor describes the space as primarily investment-grade tenanted retail. 2 Neither the SEC filing nor the sponsor's public materials disclose individual street addresses, purchase prices, acquisition dates, or which tenant occupies which building.

Property size
16 properties; 546,966 sq ft

Tenant and lease terms are not in the SEC filings or cited sources.

How was it financed, and what did it cost to sell?

This is a leveraged Trust: investor equity was combined with mortgage debt, which is why the portfolio's total size exceeds the equity raised. ExchangeRight put the portfolio at $111.01 million. 2 The lender's identity and the loan terms do not appear in the Trust's SEC filing.

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.

Costs and terms from the Form D

Selling commissions
$3,265,000 · 5.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$0 · 0.0% of offering
Form D Item 16
Broker-dealers named in the Form D
1 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Not in the Form D
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.

What does the SEC record show?

The Trust's Form D — the brief notice an issuer files with the SEC after the first sale in a private placement — was never amended, so the federal record still reflects the offering as it stood at launch. The full-subscription milestone came from the sponsor's own announcement rather than a filing. 2

Legal Trust name
ExchangeRight Net-Leased Portfolio 68 DST
SEC CIK
2035208
First Form D
Aug 26, 2024
Latest Form D
Aug 26, 2024
Filings on record
1
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount sold
Form D$65,300,000
$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 68 DST?
Net-Leased Portfolio 68 DST is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Aug 26, 2024.
Why does the SEC record still show the offering as unsold?
The Trust filed one Form D on August 26, 2024 and never amended it. Issuers are not required to update a Form D as subscriptions come in, so its progress fields stay frozen at the launch snapshot. The sponsor's July 21, 2025 announcement is the source for the offering being fully subscribed.
Could this Trust end in a 721/UPREIT exit?
ExchangeRight stated on July 21, 2025 that the DST was designed to be compatible with a potential future acquisition by its Essential Income REIT, and that investors may have 721 exchange, 1031 exchange, cash-out, or combined exit options. A 721 exchange means contributing the property to a REIT in return for operating-partnership units. These were described as potential strategies; no such transaction has been reported.
What is not in the public record for this Trust?
Individual property addresses, purchase prices, acquisition dates, a tenant-by-property map, the lender's identity, and the loan terms are all absent from the Form D and the sponsor's public announcements. A third-party marketplace page lists occupancy and debt details that no primary record located in research corroborates. Those items belong in the offering documents and the Trust's loan documents.

In the news

$111 Million Net-Leased Portfolio 68 DST Fully Subscribed as ExchangeRight Expands its REIT's Acquisition PipelineSponsor announcement that Net-Leased Portfolio 68 DST, a $111.01 million portfolio of 16 long-term net-leased properties (546,966 sq ft) across 10 states with tenants including FedEx, Dollar Tree, Tractor Supply, O'Reilly Auto Parts, Dollar General Market, Sherwin-Williams, and Dollar General, was fully subscribed with a 5.00% annualized distribution rate.
As reported by the sponsor · ExchangeRight Real Estate ↗also: BusinessWire (ExchangeRight press release) ↗

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.