Offering Summary — DST Underwriting

Net-Leased Portfolio 75 DST offers $47,570,000 in equity and $37,330,000 in debt across a 6-property single-tenant portfolio. The offering targets a 5% initial distribution and a 5.3% average income over the hold period.

Capital structure

Offering Equity$30.36M50.6% · $121,449 / unit

Offering Debt$29.64M

Offering price

$60.0M

Price / unit

$240,000

Units

250

Property age

12 yrs

Projected distribution rate

Avg 6.75%

Yr 1Term avg.

Yr 1 5.00%Term avg. 5.30%

Year-one distribution of 6.25% stepping to 7.20% by year seven.

The property

6 Net-Leased Assets, 6 Markets, 11.8-Year WALT

$84,900,000 acquisition price

Net-Leased Portfolio 75 DST

single- tenant, net-leased properties

The age of the properties is referenced only in general terms, noting that capital expenditures are not expected to be needed beyond minor, non-structural work when taking into account the age and condition of the properties, but no specific construction year or explicit age is provided.

East Hanover, NJ

144 unitssingle- tenant, net-leased properties

$84,900,000

100.0% of portfolio

Seller: —
Property manager: ExchangeRight

Sponsor

ExchangeRight

Asset Type

Single- tenant, net-leased properties

Location

East Hanover, NJ

Units

144

Property Age

Offering Price

$84,900,000

Offering Debt

$37,330,000

Offering Equity

$47,570,000

Offering LTV

43.97%

Income % (Yr. 1)

Avg. Income (Full Term)

5.3%

Minimum Cash Investment

—

Minimum 1031 Investment

—

Strengths

Conservative offering LTV of 43.97%
Projected Year 1 distribution of 5% with 5.3% average over term

Concerns

Portfolio limited to 6 properties and 5 tenants
Specific property construction ages are not disclosed