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Investment Opportunities

View our investment opportunities and see the diverse portfolio available to you.

Asset Class

State

Sponsor

LTV

Projected Year 1 Cash Flow

Asset Class

Senior Living

Offering Price

TBD

Year Built

TBD

LTV

TBD

Estimated Hold Period

TBD

Projected Year 1 Cash Flow

TBD
Coyote Plains, LLC is a Oil & Gas mineral rights portfolio over 29.262 gross acres and 16 counties which consist

Asset Class

Land

Offering Price

$18,250,000.00

Year Built

LTV

0.00%

Estimated Hold Period

5 – 7 yrs

Projected Year 1 Cash Flow

8.00%

Asset Class

Senior Living

Offering Price

TBD

Year Built

TBD

LTV

TBD

Estimated Hold Period

TBD

Projected Year 1 Cash Flow

TBD

Asset Class

Multifamily

Offering Price

TBD

Year Built

TBD

LTV

TBD

Estimated Hold Period

TBD

Projected Year 1 Cash Flow

TBD

Asset Class

Development

Offering Price

TBD

Year Built

TBD

LTV

TBD

Estimated Hold Period

TBD

Projected Year 1 Cash Flow

TBD

Asset Class

Multifamily

Offering Price

TBD

Year Built

2013

LTV

TBD

Estimated Hold Period

TBD

Projected Year 1 Cash Flow

TBD
Opened in January 2023, BV Ernest Health Neuro Rehab DST features a long-term 20-year Absolute Net lease extend

Asset Class

Medical

Offering Price

$77,667,582.00

Year Built

2022

LTV

0.00%

Estimated Hold Period

5 – 7 yrs

Projected Year 1 Cash Flow

5.70%
FedEx DTW Air Cargo Logistics DST is a newly constructed state-of-the-art air cargo facility leased by…..

Asset Class

Industrial

Offering Price

$379,313,267.00

Year Built

2024

LTV

84.75%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

0.00%
Net Leased All Cash 14 DST is a diversified retail portfolio consisting of 4 net-lease properties in 2 states…

Asset Class

Retail

Offering Price

$23,300,000.00

Year Built

Various

LTV

0.00%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

5.20%
Cove Essential Net Lease Portfolio 89 DST is an industrial portfolio that includes two locations….

Asset Class

Industrial

Offering Price

$13,517,400

Year Built

Various

LTV

0.00%

Estimated Hold Period

3 – 5 yrs

Projected Year 1 Cash Flow

5.75%
SE FLP (Tri-Cities) DST is a newly constructed, 107,200 square foot, Class A distribution facility….

Asset Class

Industrial

Offering Price

$28,389,000

Year Built

2023

LTV

44.82%

Estimated Hold Period

7 – 9 yrs

Projected Year 1 Cash Flow

5.30%
Moody Med Center I DST more commonly known as Courtyard Houston Medical Center/NRG Park by Marriott hotel….

Asset Class

Hospitality

Offering Price

$33,505,000

Year Built

2009

LTV

0.00%

Estimated Hold Period

5 – 7 yrs

Projected Year 1 Cash Flow

6.00%
Messenger Place DST is offering up to 100% beneficial ownership in a Class A multifamily property…

Asset Class

Multifamily

Offering Price

$34,123,322

Year Built

2019

LTV

0.00%

Estimated Hold Period

3 – 5 yrs

Projected Year 1 Cash Flow

4.42%
Net Leased All Cash 13 DST is a diversified retail portfolio consisting of 6 net-lease properties in 3 states…

Asset Class

Retail

Offering Price

$38,080,000

Year Built

Various

LTV

0.00%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

5.20%
Diversified Industrial Portfolio V DST (the trust) is a portfolio of two (2) industrial properties….

Asset Class

Industrial

Offering Price

$36,717,523

Year Built

Various

LTV

0.00%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

4.66%
BT Columbia Student Housing DST is a newly acquired student housing complex which consists of a 616-bed…

Asset Class

Student Housing

Offering Price

$41,500,000

Year Built

2003

LTV

48.81%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

4.61%
NLCA Government Lease Holdings II DST is a diversified portfolio consisting of two (2) Government properties…

Asset Class

Office

Offering Price

$402,397,396

Year Built

Various

LTV

56.68%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

4.50%
LSC Rochester NY DST is a multi-family residential community for seniors that was built in 2006…

Asset Class

Senior Living

Offering Price

$39,200,000

Year Built

2006

LTV

48.20%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

4.70%
NexPoint Storage VI DST is a newly constructed dual-property portfolio consisting of 1,699 storage units…

Asset Class

Self-Storage

Offering Price

$45,340,000

Year Built

2019

LTV

0.00%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

4.20%
Wheaton Multifamily DST known as “Wheaton 121 Apartments.” The Property is situated on an irregular-shaped land

Asset Class

Multifamily

Offering Price

$120,518,506

Year Built

2013

LTV

0.00%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

4.00%
BR Amira DST, commonly known as “Amira at Westly”, is a Class A, garden style apartment community….

Asset Class

Multifamily

Offering Price

$122,691,529

Year Built

1999

LTV

46.17%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

4.40%
NAI VCA Animal Hospital DST is a newly retrofitted and renovated CVS building leased to VCA Animal Hospital….

Asset Class

Medical

Offering Price

$13,176,696

Year Built

2003

LTV

49.33%

Estimated Hold Period

3 – 5 yrs

Projected Year 1 Cash Flow

5.28%
ERP Industrial Portfolio II DST is an industrial portfolio consisting of 29 single-tenant, net-lease industrial

Asset Class

Industrial

Offering Price

$71,880,000

Year Built

Various

LTV

30.06%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

5.40%
LRT Hardeeville Senior Living DST is a 8.17 acre development site located at 20 Island Gate Way in Hardeeville..

Asset Class

Development

Offering Price

$17,000,000

Year Built

Various

LTV

0.00%

Estimated Hold Period

3 – 4 Years

Projected Year 1 Cash Flow

6.30%
Notes CS I DST is a newly built Amphitheater known as “The Sunset Amphitheatre” which consists of 9.41 acres….

Asset Class

Mixed Use

Offering Price

$53,000,000

Year Built

2024

LTV

0.00%

Estimated Hold Period

5 – 7 yrs

Projected Year 1 Cash Flow

6.00%
MCG 7 Brew Coffee DST is a quick service coffee portfolio consisting of six (6), newly constructed 7 Brew Coffee

Asset Class

Retail

Offering Price

$17,212,151

Year Built

Various

LTV

0.00%

Estimated Hold Period

5 – 7 yrs

Projected Year 1 Cash Flow

6.00%
Madison Ridge DST is a brand new 2023 construction multifamily community located at 3506 Buster Lane…

Asset Class

Multifamily

Offering Price

$77,670,567

Year Built

2023

LTV

0.00%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

4.50%
Life Sciences III DST is a state-of-the-art 137,811 square foot industrial property that was built-to-suit…

Asset Class

Industrial

Offering Price

$61,961,253

Year Built

2021

LTV

50.52%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

4.18%
Semiconductor Manufacturing DST is an industrial manufact property with one primary building 450,000 total SqFt

Asset Class

Industrial

Offering Price

$211,944,633

Year Built

1985

LTV

35.39%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

5.19%
SPP TXAL Investment DST is a portfolio of four (4) Logan’s Roadhouse Restaurant sale leasebacks…..

Asset Class

Retail

Offering Price

$12,238,874

Year Built

Various

LTV

0.00%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

6.14%
Village Towers is an office building with retail space consisting of approximately 325,557 square feet….

Asset Class

Office

Offering Price

$210,750,000

Year Built

2020

LTV

37.27%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

6.00%
Life Sciences II DST is a newly formed Delaware Statutory Trust which owns several life sciences properties….

Asset Class

Industrial

Offering Price

$65,478,553

Year Built

1992

LTV

35.10%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

4.16%
Parkland Apartments DST consists of 43 two- and three-story residential buildings, two one-story clubhouse….

Asset Class

Multifamily

Offering Price

$179,124,000

Year Built

1991

LTV

40.99%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

5.00%
Manufacturing Essential Asset DST is a single tenant industrial DST leased to US Medical Glove Co a leading….

Asset Class

Industrial

Offering Price

$286,117,607

Year Built

1997

LTV

36.35%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

6.80%
NCLA Dollar DST is a portfolio consisting of 20 new construction built-to-suit Dollar General stores…..

Asset Class

Retail

Offering Price

$36,042,762

Year Built

Various

LTV

0.00%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

6.00%
GSA CIS Camp Springs DST is a Delaware statutory trust which owns the U.S. Citizenship and Immigration Serv…

Asset Class

Office

Offering Price

$377,000,000

Year Built

2020

LTV

21.75%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

4.55%
Arbour Commons at The Orchard Town Center is a well located, 394-unit garden-style upscale apartment community.

Asset Class

Multifamily

Offering Price

$170,739,000

Year Built

2014

LTV

43.70%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

4.53%
Southlake DST is comprised of 265,942 net rentable square feet, is currently platted together with……

Asset Class

Office

Offering Price

$91,092,820

Year Built

2001

LTV

43.49%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

5.13%
Moody 77024 Multifamily is a 164-unit multifamily apartment complex commonly known as The Village at Bunker Hill

Asset Class

Multifamily

Offering Price

$34,762,273

Year Built

1968

LTV

36.58%

Estimated Hold Period

7 – 10 Years

Projected Year 1 Cash Flow

4.69%
PG Ocean DST is an upscale, extended-stay Marriott brand hotel known as “Residence Inn Ocean Township.”.

Asset Class

Hospitality

Offering Price

$39,829,373

Year Built

2024

LTV

0.00%

Estimated Hold Period

6 – 8 Years

Projected Year 1 Cash Flow

6.17%

NAI NuCare Madison DST

Sponsor

NAI Legacy

Location

Madison, Wisconsin

Asset Class

Senior Living

Offering Price

TBD

Year Built

TBD

LTV

TBD

Estimated Hold Period

TBD

Projected Year 1 Cash Flow

TBD

NAI NuCare Madison DST

Sponsor

NAI Legacy

Location

Madison, Wisconsin

Asset Class

Senior Living

Offering Price

TBD

Year Built

TBD

LTV

TBD

Estimated Hold Period

TBD

Projected Year 1 Cash Flow

TBD

Coyote Plains LLC

Coyote Plains, LLC is a Oil & Gas mineral rights portfolio over 29.262 gross acres and 16 counties which consist

Sponsor

Montego Minerals

Location

Midlands, TX

Asset Class

Land

Offering Price

$18,250,000.00

Year Built

LTV

0.00%

Estimated Hold Period

5 – 7 yrs

Projected Year 1 Cash Flow

8.00%

Coyote Plains LLC

Exchange-X along with managing partner Montego Minerals is pleased to announce the offering of Coyote Plains, LLC. Coyote Plains, LLC is a Oil & Gas mineral rights portfolio over 29.262 gross acres and 16 counties which consist of 40 individual properties and six (6) operators. The portfolio currently consists of 235 producing wells, 24 active permits, 56 DUC (drilled but uncompleted), and room for 124 additional wells to be drilled.

Investors will hold the status of co-owners with respect to the Interests. Generally, the Interests will be in producing oil and gas properties: (i) that we reasonably believe will generate positive cash flow from the sale of oil and/or gas derived from the properties and (ii) that will not require active participation by us or the Investors in exploratory or development drilling which exposes us or the Investors to the potential liabilities associated with such activities.

The Grand Forks asset represents 5 individual properties located across the core counties within the Delaware Basin of the Permian. Those counties are Loving and Winkler. The Grand Forks asset has 8 newly drilled wells across 2,720 acres. There are 2 DUCs on the properties that are awaiting completion. The Grand Forks properties sit underneath several of the most active and capitalized operators in the field, ConocoPhillips and Mewbourne Oil Company. These operators bring economies of scale and decades of experience in manufacturing oil and gas across these locations.

The Double Diamond asset is located in a core county of the Permian Basin: Reagan county. The DD asset has 91 current producing horizontal wells, along with 14 newly drilled wells awaiting completion across 5,760 acres. These locations within the Permian Basin are operated by three of the largest oil producers in the industry: Diamondback Energy, Double Eagle and Permian Resources.

The MBP asset is located in three of the most active counties of the Permian Basin: Upton, Glasscock and Midland County. These locations within the Permian Basin are operated by three of the largest oil producers in the industry: Occidental Petroleum, ConocoPhillips, and Diamondback Energy. These operators have collectively drilled 96 new horizontals wells, providing current cash flow to investors. In addition to this current production, the MBP asset has 25 new DUCs awaiting completion, 13 new permits and room for an additional 35 wells to be drilled.

Investment Strategy
Provides exposure to energy real estate through producing and non-producing royalty assets located in our country’s most active shale plays.

Estimated Production Life
Our engineering analysis supports an
estimate of more than 35 years of remaining oil and gas reserves that can be produced from Coyote Plains Properties LLC’s properties.

Diversified Revenue Sources:
• Oil
• Natural Gas
• Natural Gas Liquids (NGL’s)

Coyote Plains, LLC is an all-cash, 0% LTV offering.

The portfolio is eligibility for Percentage depletion. Percentage depletion is a tax advantage available to owners of mineral properties, including oil and gas wells, coal mines, and other natural resource assets.

Property Website

Sponsor

Montego Minerals

Location

Midlands, TX

Asset Class

Land

Offering Price

$18,250,000.00

Year Built

LTV

0.00%

Estimated Hold Period

5 – 7 yrs

Projected Year 1 Cash Flow

8.00%

LRT RI Coventry Senior Living DST

Sponsor

LRT Development Group

Location

RI

Asset Class

Development

Offering Price

TBD

Year Built

TBD

LTV

TBD

Estimated Hold Period

TBD

Projected Year 1 Cash Flow

TBD

LRT RI Coventry Senior Living DST

Sponsor

LRT Development Group

Location

RI

Asset Class

Development

Offering Price

TBD

Year Built

TBD

LTV

TBD

Estimated Hold Period

TBD

Projected Year 1 Cash Flow

TBD

Griffin Capital (Heritage – Gonzales, LA) DST

Sponsor

Griffin Capital

Location

Gonzales, LA

Asset Class

Multifamily

Offering Price

TBD

Year Built

TBD

LTV

TBD

Estimated Hold Period

TBD

Projected Year 1 Cash Flow

TBD

Griffin Capital (Heritage – Gonzales, LA) DST

Sponsor

Griffin Capital

Location

Gonzales, LA

Asset Class

Multifamily

Offering Price

TBD

Year Built

TBD

LTV

TBD

Estimated Hold Period

TBD

Projected Year 1 Cash Flow

TBD

FSC Aviation Infrastructure DST

Sponsor

Four Springs Capital

Location

Miami, FL

Asset Class

Development

Offering Price

TBD

Year Built

TBD

LTV

TBD

Estimated Hold Period

TBD

Projected Year 1 Cash Flow

TBD

FSC Aviation Infrastructure DST

Sponsor

Four Springs Capital

Location

Miami, FL

Asset Class

Development

Offering Price

TBD

Year Built

TBD

LTV

TBD

Estimated Hold Period

TBD

Projected Year 1 Cash Flow

TBD

CF Chestnut Street Multifamily DST

Sponsor

Cantor Fitzgerald

Location

Philadelphia, PA

Asset Class

Multifamily

Offering Price

TBD

Year Built

2013

LTV

TBD

Estimated Hold Period

TBD

Projected Year 1 Cash Flow

TBD

CF Chestnut Street Multifamily DST

Sponsor

Cantor Fitzgerald

Location

Philadelphia, PA

Asset Class

Multifamily

Offering Price

TBD

Year Built

2013

LTV

TBD

Estimated Hold Period

TBD

Projected Year 1 Cash Flow

TBD

BV Ernest Health Neuro Rehab DST

Opened in January 2023, BV Ernest Health Neuro Rehab DST features a long-term 20-year Absolute Net lease extend

Sponsor

Bridgeview Real Estate

Location

Sacramento, CA

Asset Class

Medical

Offering Price

$77,667,582.00

Year Built

2022

LTV

0.00%

Estimated Hold Period

5 – 7 yrs

Projected Year 1 Cash Flow

5.70%

BV Ernest Health Neuro Rehab DST

Summary:
Exchange-X, along with managing partner Bridgeview Real Estate, is pleased to announce the offering of BV Ernest Health Neuro Rehab DST. Opened in January 2023, BV Ernest Health Neuro Rehab DST features a long-term 20-year Absolute Net lease extending through January 4, 2043, which also includes two additional 10-year tenant options. The lease structure incorporates annual rent escalations, providing a stable and growing income stream. The facility boasts 50 total beds and demonstrates strong operational performance with a 95% average occupancy rate as of December 31, 2024. Further bolstering its market position are active overflow referral agreements with prominent healthcare providers Kaiser Permanente and UC-Davis Medical Center.

The Trust owns a ground leasehold interest in the Land (i.e., approximately 6.23 acres of land located at 10 Advantage Court, Sacramento, California 95834) and a fee simple interest in the Improvements, which include a two-story, 59,508-square foot building that is home to the 50-bed Sacramento Rehabilitation Hospital (https://srh.ernesthealth.com/), a state-of-the-art inpatient rehabilitation facility that is Sacramento’s only neurospecialty rehabilitation facility. The Trust is the tenant under the Ground Lease. The Ground Lease has a term of 60 years, which commenced on April 16, 2025 and terminates on March 30, 2085 with no extensions.

The Sacramento Rehabilitation Hospital provides specialized services to patients recovering from disabilities caused by accidents, illnesses, or chronic medical conditions. These disabilities occur
regardless of the economic environment. The inpatients receive a multidisciplinary team to maximize their return of functional capabilities, perform daily activities, return to work (or school), and pursue leisure activities. Patients treated in rehab hospitals vs. skilled nursing facilities live longer, have fewer hospital and ER visits, and remain longer in their homes without additional outpatient services.

Ernest Health is a network of rehab and long-term acute care hospitals that see patients who are often recovering from disabilities caused by injuries or illnesses or from chronic or complex medical conditions. Ernest owns 35 facilities (four in California and the others across 13 states). The hospital network has earned national recognition as a healthcare leader, providing patients with the highest level of care.

Located in the Sacramento-Roseville-Folsom, California MSA which boasts a large concentration of major medical providers, including UC Davis Medical Center, California’s only Level 1 trauma center north of the Bay Area. Healthcare accounts for an above-average share of employment in SAC in part because of its importance to neighboring rural counties with fewer providers. The Appraiser is aware of no other known planned rehabilitation hospitals in the local and immediate area that would provide negative competition to the Property.

Property Website

Sponsor

Bridgeview Real Estate

Location

Sacramento, CA

Asset Class

Medical

Offering Price

$77,667,582.00

Year Built

2022

LTV

0.00%

Estimated Hold Period

5 – 7 yrs

Projected Year 1 Cash Flow

5.70%

FedEx DTW Air Cargo Logistics DST

FedEx DTW Air Cargo Logistics DST is a newly constructed state-of-the-art air cargo facility leased by…..

Sponsor

Net Lease Capital

Location

Romulus, MI

Asset Class

Industrial

Offering Price

$379,313,267.00

Year Built

2024

LTV

84.75%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

0.00%

FedEx DTW Air Cargo Logistics DST

Exchange-X, along with managing partner Net Lease Capital is pleased to announce the offering of FedEx DTW Air Cargo Logistics DST.

Offering Summary

FedEx DTW Air Cargo Logistics DST is a newly constructed state-of-the-art air cargo facility leased by an affiliate of FedEx Corporation at the Detroit Metropolitan Wayne County Airport. The Property is approximately 63.94 acres of land located at 30500 Superior Road, Romulus, Michigan 48174, together with a 466,483 square foot single-tenant air cargo facility completed in 2024 (consisting of four buildings and two canopies). The property functions as a sortable air cargo facility for FedEx Corporation. Its uses include processing and sorting cargo, aircraft gate parking, storing and handling of aircraft and motor fuels/lubricants, aircraft storage and fueling, de-icing/anti-icing, vehicle parking, GSE and vehicle maintenance, aircraft maintenance and parts storage, vehicle washing, a customer service lobby, and general office space.

The sub-lease starts on the commencement date and ends on October 31, 2054, with Federal Express Corporation having two ten-year renewal options that require 12 months’ notice, assuming no default. Monthly base rent began at $1,821,281.18 on November 1, 2024, calculated as 6.530% of final budget total project costs divided by 12. This base rent will increase 3% annually starting the 13th month after the commencement date. During any renewal term, the annual base rent will be the fair market rent, but it won’t be lower than the previous year’s rent.

The Detroit region is the epicenter of the global automotive industry and home to other high-tech industries, including defense, logistics, health care, and information technology. Metro Detroit has one of the largest metropolitan economies in the U.S. with 17 Fortune 500 companies. Detroit Metropolitan Wayne County Airport (DTW) is one of the world’s leading air transportation hubs with more than 800 flights per day to and from three continents.

Loan Terms

The Property is encumbered by three non-recourse mortgage loans:

A1 Note

Initial Loan Balance: $374,648.103.72
Current Loan Balance: $373,327,665.63
(as of 12/15/24)
Interest Rate: 6.605%
Loan Term: 30 Years
Loan Expiration: 10/15/2054
Current Annual Debt Service: $20,679,326.25
Balloon Balance: $18,732,405.16

B1 NOTE

Initial Loan Balance: $13,576,498.00
Current Loan Balance: $13,572,445.13
(as of 12/15/24)
Interest Rate: 6.90%
Loan Expiration: 10/16/2054
Current Annual Debt Service: $961,025.86
Balloon Balance: $0.00

B2 NOTE

Initial Loan Balance: $14,882,326.00
Current Loan Balance: $16,481,974.89
(as of 12/15/24)
Interest Rate: 8.353%
Loan Expiration: 10/16/2054
Current Annual Debt Service: $56,940.45
Balloon Balance: $175,000,000.00

See PPM for full details.

Sponsor

Net Lease Capital

Location

Romulus, MI

Asset Class

Industrial

Offering Price

$379,313,267.00

Year Built

2024

LTV

84.75%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

0.00%

Net Leased All Cash 14 DST

Net Leased All Cash 14 DST is a diversified retail portfolio consisting of 4 net-lease properties in 2 states…

Sponsor

ExchangeRight

Location

Various

Asset Class

Retail

Offering Price

$23,300,000.00

Year Built

Various

LTV

0.00%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

5.20%

Net Leased All Cash 14 DST

Exchange-X, along with managing partner ExchangeRight is pleased to announce the offering of ExchangeRight Net Leased All Cash 14 DST.

Offering Summary

Net Leased All Cash 14 DST is a diversified retail portfolio consisting of 4 net-lease properties in 2 states with national corporate leases backed primarily by investment-grade and recession resilient tenants starting at a 5.20% year-1 net target cash flow from in-place lease revenue. The portfolio is focused on retail properties that are leased to national tenants operating essential businesses with a weighted-average lease term of 11.3 years.

National credit tenants include Tractor Supply Company, Wawa, Dollar Tree, and Dollar General. The properties are located in Alabama and Pennsylvania. The Trust acquired the following portfolio of six properties located at (i) 2050 Point Mallard Drive SE, Decatur, Alabama 35601; (ii) 5597 Cielito Lindo Boulevard, Laredo, Texas 78046; (iii) 1709 Frederick Road, Opelika, Alabama 36801; and (iv) 1949 York Road, Jamison, Pennsylvania 18929-1615 and 1937 York Road, Jamison, Pennsylvania 18929-1615.

The Properties are 100% occupied.

Loan Terms

All Cash. (0.00% LTV)

See “PPM” for details.

Property Cash Flow

5.20% Year one cash flow.

See “PPM” for details.

Sponsor

ExchangeRight

Location

Various

Asset Class

Retail

Offering Price

$23,300,000.00

Year Built

Various

LTV

0.00%

Estimated Hold Period

7 – 10 yrs

Projected Year 1 Cash Flow

5.20%

Cove Essential Net Lease Portfolio 89 DST

Cove Essential Net Lease Portfolio 89 DST is an industrial portfolio that includes two locations….

Sponsor

Cove Capital Investments

Location

Various

Asset Class

Industrial

Offering Price

$13,517,400

Year Built

Various

LTV

0.00%

Estimated Hold Period

3 – 5 yrs

Projected Year 1 Cash Flow

5.75%

Cove Essential Net Lease Portfolio 89 DST

Exchange-X, along with managing partner Cove Capital, is pleased to announce the offering of Cove Essential Net Lease Portfolio 89 DST.

Cove Essential Net Lease Portfolio 89 DST is an industrial portfolio that includes locations at 3015 South Prosperity Avenue in Joplin, Missouri, and 38 Smoky Mountain Drive in Sylva, North Carolina. Generally, the tenants occupying these properties are responsible for covering most of the operating expenses associated with the improvements, such as general maintenance, utilities, real estate taxes, and insurance.

The property, located at 3015 South Prosperity Avenue in Joplin, Missouri, is an industrial distribution facility fully occupied by Lowe’s. It comprises one single-story building constructed in 2022, encompassing a gross area of 63,000 square feet on a 5.09-acre land parcel. The building features a concrete slab foundation, aluminum panel, sheet metal, and cinder block exterior walls, and a central, forced-air HVAC rooftop packaged system.

Lowe’s is a prominent home improvement retailer with 1,746 stores across the United States, offering a wide array of products and services for homeowners, DIYers, and professionals. Known for its focus on quality, affordability, and customer satisfaction, Lowe’s provides everything from hardware to home décor, supported by knowledgeable staff. The company is committed to innovation and sustainability, offering online shopping with various delivery options. In 2023, Lowe’s reported revenues of $97.1 billion. The current lease term expires on July 31, 2030, and includes five 3-year renewal options. The current base rental rate is approximately $8.44 per rentable square foot, resulting in a current annual base rent of $515,970. Annual rent escalations are scheduled each August 1st from 2025 ($531,720) through 2029 ($598,500).

Located in the Joplin MSA which encompasses Jasper and Newton counties in southwestern Missouri. It is centered around the city of Joplin, which serves as the primary economic and cultural hub of the region. Joplin is positioned at the crossroads of I-44 and U.S. 71, providing easy access to major metropolitan areas like Kansas City, Tulsa, and Springfield.

The property located at 38 Smoky Mountain Drive in Sylva, North Carolina, is a fully occupied industrial facility used for Frito-Lay distribution. The property consists of a single one-story building constructed in 2024, offering both a gross building area and a gross rentable area of 5,967 square feet on an 8.95-acre site. It features a concrete slab foundation and exterior walls made of aluminum panels, sheet metal, and cinder blocks.

Frito-Lay North America, Inc. (FLNA) is the branded food and snack business unit of PepsiCo (NYSE: PEP). The snack division of PepsiCo, responsible for popular brands like Lay’s, Doritos, and Cheetos in the US and Canada. They utilize independent distributors and retailers and have a joint venture for Sabra dips. The current lease term expires on July 14, 2034, and includes two 5-year renewal options. The current base rental rate is approximately $46.72 per square foot, resulting in a current annual base rent of $278,796. Annual rent escalations are scheduled each August 1st from 2025 ($284,371.92) through 2033 ($333,187.08).

Located in Sylva, North Carolina, in the southwestern part of the state near Macon and Jackson Counties, is the county seat of Jackson County and is known for its natural beauty and small-town charm. The town benefits from strong transportation links, primarily through U.S. Highway 74, which runs east-west and connects Sylva to major North Carolina cities like Asheville, Charlotte, and Wilmington. Its proximity to Asheville, a significant regional city about 70 miles to the east with a vibrant economy, offers additional business and market access. The ongoing expansion of the Franklin Industrial Park is set to enhance Sylva’s industrial sector by providing modern facilities for manufacturing and distribution.

Loan Terms

All Cash. (0.00% LTV)

See “PPM” for details.

Sponsor

Cove Capital Investments

Location

Various

Asset Class

Industrial

Offering Price

$13,517,400

Year Built

Various

LTV

0.00%

Estimated Hold Period

3 – 5 yrs

Projected Year 1 Cash Flow

5.75%