Net-Leased Portfolio 72 DST
Net-leased retail and healthcare property · sponsored by ExchangeRight
Net-Leased Portfolio 72 DST is a DST sponsored by ExchangeRight that owns 15 net-leased retail and healthcare properties. Its latest Form D, filed Sep 26, 2025, lists a $32.7 million offering with a $100,000 minimum.
Key facts
- Minimum investment
- $100,000From the Form D
- Offering size
- $32,725,000Equity offered, per the Form D
- Sold so far
- Not reported after the first Form D (Sep 26, 2025)Form D, Sep 26, 2025
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,636,250 · 5.0% of offering
- 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 →
Can I still invest?
No new interests: the offering is reported fully subscribed.
Other ExchangeRight offerings on record
- ExchangeRight Essential Income 14 DST$100,000 minimum · $136,100,000 offeringActive offering · latest Form D Oct 14, 2026
- ExchangeRight Net-Leased All-Cash 22 DST$100,000 minimum · $35,700,000 offeringActive offering · latest Form D Sep 30, 2026
- ExchangeRight Essential Income 13 DSTLakeville, MN · $100,000 minimum · $107,600,000 offeringActive offering · latest Form D Aug 20, 2026
- ExchangeRight Net-Leased All-Cash 21 DST$100,000 minimum · $43,390,000 offeringActive offering · latest Form D Jul 29, 2026
Availability changes without a filing. The sponsor or a registered representative can confirm what is open.
Looking for an offering like this one? A licensed 1031 specialist from our affiliated partner can talk through what is on record.
Ask a 1031 specialist about this recordFree. About: Net-Leased Portfolio 72 DST. Top1031 is not a broker-dealer.Net-Leased Portfolio 72 DST · Photo: cdn-static.exchangeright.com
Location not stated in the SEC filings.
What does Net-Leased Portfolio 72 DST own?
ExchangeRight built this trust as a spread of single-tenant buildings in 14 markets across seven states, not one building in one location. 2 The space mixes retail and healthcare uses. 2
- Property size
- 15 properties / 240,137 SF
Tenant and lease terms are not in the SEC filings or cited sources.
How is it financed, and what did it cost to sell?
The trust owns the portfolio subject to a mortgage rather than free and clear. ExchangeRight reported $25.9 million of non-recourse debt, meaning the lender generally looks to the real estate itself, not an investor's other assets, if the loan goes bad. 2
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $1,636,250 · 5.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Lighthouse Capital Group, LLC · CRD 169135
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.
Who's behind Net-Leased Portfolio 72 DST?
ExchangeRight builds net-leased DSTs around retail and healthcare tenants, the mix gathered here, and the sponsor entity of record is ExchangeRight Real Estate, LLC. It announced on June 9, 2026 that the Portfolio 72 offering was fully subscribed, and that monthly investor distributions were being covered by in-place offering revenues. 2
- Sponsor
- Offerings on record
What does the SEC record show?
- Legal Trust name
- ExchangeRight Net-Leased Portfolio 72 DST
- SEC CIK
- 2088465
- First Form D
- Sep 26, 2025
- Latest Form D
- Sep 26, 2025
- Filings on record
- 1
- 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 | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $32,725,000 | $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
- Can I still invest in Net-Leased Portfolio 72 DST?
- No new interests: Net-Leased Portfolio 72 DST is reported fully subscribed. Top1031 lists it as recently fully subscribed and does not count it as an active offering.
- What does Net-Leased Portfolio 72 DST own?
- It owns 15 long-term net-leased retail and healthcare properties totaling 240,137 square feet, in 14 markets across seven states, according to ExchangeRight's June 9, 2026 announcement. The properties are single-tenant buildings held in one Delaware statutory trust, so an investor owns a fractional interest in the whole portfolio rather than in any single building.
- Who are the tenants, and how long do the leases run?
- ExchangeRight names Dollar General Market, Tractor Supply Company, Sutter Health, Dollar Tree, AutoZone and Wild Fork Foods among the portfolio's tenants. The sponsor reported an initial weighted-average lease term of 14.9 years across the 15 properties. The leases are net leases, so the tenants carry taxes, insurance and property upkeep rather than the trust.
- How is the portfolio financed?
- ExchangeRight reported $25.9 million of non-recourse debt against the portfolio, at a 44.19% loan-to-value ratio, in its June 9, 2026 announcement. Non-recourse means the lender's remedy after a default is generally the real estate itself rather than an investor's other assets. Each investor's share of that debt also counts toward replacing debt in a 1031 exchange.
- Why is ExchangeRight's $58.6 million figure larger than the securities offering amount?
- The $58.6 million is the total portfolio figure, which includes the $25.9 million of debt ExchangeRight reported. The Form D filed September 26, 2025 reports only the equity securities offered to investors, which is a smaller measure. Total capitalization and equity raised are different numbers and are not directly comparable.
- What was the minimum investment?
- The Form D filed September 26, 2025 reported a $100,000 minimum investment from an outside investor. That figure is the one stated in the SEC notice; the binding terms were those set out in the offering documents.
- Has any property sale or refinancing been reported for this trust?
- No property sale, refinancing or other outcome has been reported for the trust. The most recent reported development is ExchangeRight's June 9, 2026 announcement about the offering, and the SEC record holds the single Form D filed September 26, 2025.
In the news
Sources
Show sources (3)Hide sources (3)
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.