Net-Leased Portfolio 72 DST
Net-leased retail and healthcare — sponsored by ExchangeRight
Files with the SEC as ExchangeRight Net-Leased Portfolio 72 DST
Minimum investment
$100k
Offering size
$32.7M
How much has sold
None sold yet
Asset type
Net-leased retail and healthcare
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 72 DST is a Delaware statutory trust — a structure that lets 1031 exchangers hold fractional real estate interests as like-kind replacement property.1 It holds 15 net-leased retail and healthcare buildings in 14 markets across seven states.2 ExchangeRight announced on June 9, 2026 that the $58.6 million offering was fully subscribed and closed to new investors.2
$58.6M; LTV 44.19% ($25.9M debt); 5.00% dist; WALT 14.9y; tenants: DG Market, Tractor Supply, Sutter Health, AutoZone
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These links support the public record as a whole; individual details may come from different sources.
Location not on recordThe SEC filings for this offering do not give a property address. The filing history below is the current public record.
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 72 from long-term net-leased retail and healthcare buildings spread across 14 markets in seven states.2 Neither the Form D nor the sponsor's announcement lists street addresses, purchase prices, acquisition dates, or which building sits in which market, so those details remain undisclosed in the public sources located.
- Property size
- 15 properties / 240,137 SF
Who is the tenant, and what's the lease?
Tenants and operators named by ExchangeRight include Dollar General Market, Tractor Supply, Sutter Health, Dollar Tree, AutoZone, and Wild Fork Foods.2 Net leases push most property-level costs — taxes, insurance, maintenance — onto the tenant rather than the trust. The sponsor reported an initial weighted-average lease term of 14.9 years.2
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
The sponsor reported this offering sold out without filing per-sale amendments, so there is no raise history to show.
How is it financed, and what does it pay?
The trust carries mortgage debt rather than owning the buildings free and clear, and that debt is non-recourse: on a default the lender's remedy is generally the real estate, not an investor's other assets. ExchangeRight reported $25.9 million of such debt on the portfolio.2 No public source located names the lender.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
- Loan-to-value
- 44.19%exchangeright.com
Who's behind it?
ExchangeRight sponsors net-leased DST offerings built largely around necessity retail and healthcare tenants, the kind gathered in this portfolio.2 The sponsor entity of record is ExchangeRight Real Estate, LLC. Connect Money reported on July 31, 2026 that the sponsor's $15.38 million Essential Income 8 DST sold out, extending a run of consecutive fully subscribed offerings that included Portfolio 72.3
- Sponsor
- ExchangeRight
- Legal Trust name
- ExchangeRight Net-Leased Portfolio 72 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?
The Form D — the brief notice private offerings file with the SEC — identifies the issuer as a Delaware business trust and was filed as a new notice at the outset of the raise.1 No later amendment records the closing. Sales were limited to accredited investors, without general advertising.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- 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
Is Net-Leased Portfolio 72 DST still raising money?
Top1031 lists Net-Leased Portfolio 72 DST as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Net-Leased Portfolio 72 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 72 DST?
No. ExchangeRight announced on June 9, 2026 that the trust was fully subscribed and closed to new investors, making it a historical offering. The SEC record holds only the original Form D filed September 26, 2025; no amendment reflecting the closing has been filed.
What does the trust own?
Fifteen long-term net-leased retail and healthcare properties totaling 240,137 square feet in 14 markets across seven states, according to ExchangeRight. Named tenants and operators include Dollar General Market, Tractor Supply, Sutter Health, Dollar Tree, AutoZone, and Wild Fork Foods.
Where exactly are the properties?
Public sources do not say. ExchangeRight reports 14 markets in seven states, but no address list, city-and-state schedule, or tenant-to-building map appears in the SEC filing or the sponsor's announcement. The property schedule in the PPM — the private placement memorandum given to prospective investors — is where that detail lives.
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. Non-recourse means the lender looks to the real estate rather than to investors personally. The lender, interest rate, amortization, and maturity are not identified in the public filings located, so the loan documents and PPM are the place to confirm them.
Why does the SEC filing show a different offering size than the sponsor's announcement?
The Form D signed September 25, 2025 was an opening snapshot filed before any sale occurred, and it reports a smaller equity offering amount than the $58.6 million total portfolio value ExchangeRight described when it announced full subscription on June 9, 2026. The public materials reviewed do not reconcile the two figures, and no amended Form D has been filed to update them.
Has any sale, refinancing, or distress event been reported for this trust?
Research through August 29, 2026 located no primary record of a sale, refinancing, foreclosure, or tenant bankruptcy involving this trust. The only reported milestone is the full subscription announced June 9, 2026. Absence of news is a search limitation, not proof that nothing occurred.
Chapter 9ExchangeRight Fully Subscribes $58.6 Million Net-Leased Portfolio 72 DSTNC News Online reports on the full subscription of ExchangeRight's Net-Leased Portfolio 72 DST, highlighting the 15-property, $58.6 million portfolio as a closed offering.