Staff Menu (IO ID#: 222002):
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Canceled
Retail
Net Leased Portfolio
Multiple Locations
INVESTMENT STRATEGY
INVESTMENT TYPE
Equity
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Offered By Exchange Right
%* TARGET IRR 6.43%-%
6.3%* TARGET AVG CASH ON CASH
* TARGET EQUITY MULTIPLE
Estimated Hold Period 7 - 10 Years
Estimated First Distribution 5/2016
*Please carefully review the Disclaimers section below, including regarding Sponsor’s assumptions and target returns
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Project Summary
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Overview
Diversified portfolio of 20 properties with long-term net leases from nine different national tenants throughout the United States.
Management
Cumulative Distributions

Exchange Right

ExchangeRight is committed to providing long-term, stable income and asset preservation to accredited 1031 investors. Their goal is to consistently deliver 1031-exchangeable DST portfolios of long-term, net-leased properties backed by investment grade corporations. They target corporate tenants that successfully operate in the necessity retail space to provide investors with stable and predictable income. ExchangeRight’s long-term exit strategy is to provide greater diversification and value to investors by combining multiple portfolios of investment grade, net-leased assets in a portfolio sale or 721 exchange roll-up.

http://www.exchangeright.com/
  • David Fisher, CPA
    Managing Member
  • Warren Thomas, CPA
    Founder and Managing Director
  • Joshua Ungerecht
    Managing Member
  • Dave Van Steenis
    Chief Financial Officer
David Fisher, CPA
Managing Member

David Fisher enjoyed a successful career in banking and finance for 20 years. He is now focused on the management success of ExchangeRight and on managing his own investments. He began his career with KPMG in the tax department, and then worked in tax, treasury, and acquisitions for Wells Fargo for over nine years. He was North American Head of Asset and Structured Finance for HSBC's Investment Banking division for the last seven years of his banking career. David and his banking teams executed international financings in excess of $4 billion. He has been an active real estate investor for the past 10 years and has interests in over 30 partnerships across nine states. He graduated from the University of Northern Iowa in 1993, Magna Cum Laude in Accounting, and earned national honors with the Elijah Watt Sells Award on the May 1993 CPA exam.

Warren Thomas, CPA
Founder and Managing Director

Warren currently serves as a managing member for ExchangeRight Real Estate. He is focused on the securitization, broker dealer, and registered representative relations sides of the business. Warren is the co-founder and president over a number of integrated wealth management and securitized real estate companies with Joshua Ungerecht. Prior to focusing on the securitized 1031 exchange market in 2003, Warren developed an extensive tax practice including estate planning, financial planning, and real estate advisory services. Warren has over 30 years of experience as a CPA and has been an active commercial real estate investor for the past 15 years. He graduated in 1978 from Biola University with a B.S. in Business Administration, specializing in Accounting. He also earned a master's degree in Taxation from Golden Gate University in 1993. He maintains Series 6, 7, 22, 24, 39,63, and 79 Securities Licenses.

Joshua Ungerecht
Managing Member

Joshua currently serves as a managing member for ExchangeRight Real Estate. He is focused on the operations, investment structuring, and acquisitions aspects of the business. Concurrently, he serves as CEO and Chief Investment Officer over a number of integrated wealth management and securitized real estate companies. He developed one of the industry's leading due diligence platforms in securitized real estate analysis. Together with Warren Thomas, Joshua has overseen the acquisition of over $500 million in real estate since 2003. Joshua graduated from The Master's College, Summa Cum Laude with a B.A. in Theology, Apologetics, and Missions, and is currently on leave from Talbot Graduate School, where he was pursuing an M.A. in Philosophy of Religion and Ethics. He also maintains Series 7, 22, 24, 63, 65, and 79 Securities Licenses and an active California real estate license.

Dave Van Steenis
Chief Financial Officer

Dave currently serves as Chief Financial Officer for ExchangeRight Real Estate. He is focused on financial reporting and acquisitions for the Company. Dave began his career with KPMG in the financial services audit practice, and most recently was with Kaufman Jacobs Real Estate Investments were he was involved in the investment acquisition, capital markets, and financial reporting aspects of the business. Dave graduated from Trinity Christian College with highest honors with a B.S. in Accounting and a Finance concentration. Dave is a CPA and is also a CFA Level III candidate.

Track Record

Offering Description Projected Annualized Return Actual Annualized Return*
Net-Leased Preferred Equity Company 1 Shorter-term fund to acquire and sell net-leased assets for the Sponsor. Performing as expected. Range of 12-20% Range of 13-17%**
Net-Leased Preferred Equity Company 2 Shorter-term fund to acquire and sell net-leased assets for the Sponsor.
Performing as expected.
Range of 8-12% 10-12%**
Acquisitions Notes II Company that issues short term debt capital to the Sponsor to acquire and sell net-leased assets. Performing as projected. Range of 8-12% 10-12%**
Net-Leased Portfolio 1 Portfolio of two long-term net-leased properties leased to Family Dollar. One of the two properties sold in January, 2015 at a 10.59% annualized  net profit to investors. Current remaining property return shown in chart and is exceeding projections. 7.25% 7.39%
Net-Leased Portfolio 2 Portfolio of seven long-term net-leased properties leased to Family Dollar (6) and Dollar General (1). Performing as projected. 7.23% 7.23%
Net-Leased Portfolio 3 Portfolio of nine long-term net-leased properties leased to Family Dollar (8) and Dollar General (1). Performing as projected. 7.30% 7.30%
Net-Leased Portfolio 4 Portfolio of eleven long-term net-leased properties leased to Family Dollar (8), Dollar General (1), Aaron's (1) and Advance Auto Parts (1). Performing as projected. 8.02% 8.02%
Net-Leased Portfolio 5 Portfolio of fourteen long-term net- leased properties leased to Family Dollar (5), Dollar General (4), Advance Auto Parts (2), AutoZone (1), Sherwin Williams (1) and The Christ Hospital (1). Performing as projected . 7.50% 7.50%
Net-Leased Portfolio 6 Portfolio of sixteen long-term net- leased properties leased to Family Dollar (3), Dollar General (8), Advance Auto Parts (1), AutoZone (1), CVS (1), Dollar Tree (1) and Tractor Supply  (1). Performing as projected. 7.51% 7.51%
Net-Leased Portfolio 7 Portfolio of sixteen long-term net- leased properties leased to Family Dollar (4), Dollar General (8), Advance Auto Parts (1), CVS (1), Napa Auto Parts (1), and O'Reilly Auto Parts (1). Performing  as projected. 7.75% 7.75%
Net-Leased Portfolio 8 Portfolio of thirteen long- term net- leased properties leased to Advance Auto Parts (3), AutoZone (2), CVS (1), Dollar General (2), Family Dollar (1), Franciscan Alliance (1), Ross Stores (1) and Tractor Supply (2). Performing as projected. 7.32% 7.32%
Net-Leased  Portfolio 9 Portfolio of twenty-two long- term net- leased properties leased to Advance Auto Parts (4), AutoZone (4), CVS (1), Dollar General (9), Hobby Lobby (1), Napa Auto Parts (2) and TCF National Bank (1). Performing  as projected. 7.03% 7.03%
Net-Leased Portfolio 10 Portfolio of twenty-two long-term net- leased properties leased to Advance Auto Parts (3), AutoZone (1), CVS (1), Dollar General (5), Dollar Tree (1), Family Dollar (4), Napa Auto Parts (2), O'Reilly Auto Parts (2), PNC Bank (1) and Tractor Supply (2). Performing as projected. 7.03% 7.03%
Net-Leased Portfolio 11 Portfolio of seventeen long-term net- lease properties leased to Advance
Auto Parts (3), CVS (1), Dollar General (5), Family Dollar (2), Hobby Lobby
(1), Napa  Auto Parts (3), Sherwin- Williams (1) and Walgreens (1)
6.75% 6.75%
Multifamily 1 - Van Mark Creek Apartments One (1) apartment community consisting of 144 units. Performing as projected. 7.05% 7.05%
Mira Bella  and San Martin One (1) apartment community consisting of 378 units. Performing as projected. 6.51% 6.51%

*These returns were provided by and calculated by the Sponsor

**These investment opportunities are open-ended (i.e. Investors come into the fund at different times) resulting in a range of returns.

 

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Offering Documentation

Disclaimers
Disclaimers

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