# ExchangeRight full-cycle data
Source: https://baker1031.com/data/full-cycle/sponsors/exchangeright
Compiled: 2026-11-03. Source workbook: full_cycle_sponsor_summary_reviewed.xlsx; SHA-256: 57b6a4f1684fe8705993e9ddbe73bdadc275be6df22e56a12153298457264a8e. This date describes the compilation, not the currency of every underlying record.
## Data limitations and educational use
This data was collected from sponsor materials and manually entered into a data file for analysis. Transcription, calculation or classification errors may exist. The compilation has not been independently audited or verified for correctness, completeness or currency. Consult the current private placement memorandum (PPM), its supplements and sponsor reports for complete, up-to-date track-record information.
Displayed metrics use the higher endpoint of each reported range, including averages and medians of those values. Selecting higher return or multiple endpoints presents the more favorable source case. These figures do not establish typical or expected performance. Original ranges remain in the underlying data and source materials.
Some source data is dated, estimated or based on valuations rather than cash exits. Sponsors may use different periods, fees, return definitions and calculation methods, making direct comparisons unreliable or impossible. Available histories may be incomplete or selected, and exclusions and missing values affect each metric’s sample. Averages are not pooled investor returns or a ranking of sponsors.
For educational purposes only. This data is not investment, tax or legal advice, a recommendation, or an offer to buy or sell securities. Past performance does not guarantee or predict future results. Real estate securities are speculative and illiquid; distributions are not guaranteed and investors may lose their entire investment.
## Data coverage
| Measure | Value |
| --- | --- |
| Investment histories | 837 |
| Sponsors covered (25 with histories) | 39 |
| Annual-return observations | 737 |
Source basis: Noncash / mixed.
| Metric | Value |
| --- | --- |
| Offerings listed | 28 |
| Avg. annual return | 10.43% |
| Avg. hold (years) | 5.41 |
| Avg. equity multiple | 1.53x |
| Success Rate | 100.00% |
| Field | Value |
| --- | --- |
| Median annual return | 10.32% |
| Source-estimated results | 0 |
| Valuation-qualified outcomes | 28 |
| Outcomes inferred from return signs | 0 |
The brochure’s 8.60% headline covers 34 programs, including six excluded fund/note products. These summaries use the higher endpoints reported for the 28 retained property programs. Some 721 outcomes use REIT NAV.
| Investment | Sponsor | Property type | Location | Start | End | Hold years | Annual return | Multiple | IRR | Outcome |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [Multifamily 1 – Van Mark Creek Apartments](https://baker1031.com/data/full-cycle/investments/3e5a09ac86d978c5.md) [41](#note-41) [44](#note-44) | ExchangeRight | Multifamily | Unavailable | 2015-04-27 | 2019-04-05 | 3.94 | 8.84% | 1.35x | Unavailable | Break-even or better |
| [Multifamily 2 – Mira Bella and San Martin Apartments](https://baker1031.com/data/full-cycle/investments/38b75d55784d0183.md) [41](#note-41) [44](#note-44) | ExchangeRight | Multifamily | Unavailable | 2015-07-31 | 2019-11-13 | 4.29 | 8.27% | 1.33x | Unavailable | Break-even or better |
| [Multifamily 3 – Lakeside at Arbor Place Apartments](https://baker1031.com/data/full-cycle/investments/317164b51e03f546.md) [41](#note-41) [44](#note-44) | ExchangeRight | Multifamily | Unavailable | 2016-07-01 | 2019-09-12 | 3.20 | 14.51% | 1.46x | Unavailable | Break-even or better |
| [Multifamily 4 – North Austin Apartment Portfolio](https://baker1031.com/data/full-cycle/investments/3ad4197944098dd4.md) [41](#note-41) [44](#note-44) | ExchangeRight | Multifamily | Unavailable | 2016-10-27 | 2021-01-28 | 4.25 | 9.71% | 1.37x | Unavailable | Break-even or better |
| [Multifamily 5 – Crystal Lake Florida Apartments](https://baker1031.com/data/full-cycle/investments/feadbeaf7d151c3f.md) [41](#note-41) [44](#note-44) | ExchangeRight | Multifamily | Unavailable | 2017-01-25 | 2019-08-23 | 2.57 | 12.55% | 1.29x | Unavailable | Break-even or better |
| [Multifamily 6 – El Paso Apartment Portfolio](https://baker1031.com/data/full-cycle/investments/aee036f6e13b09ae.md) [41](#note-41) [44](#note-44) | ExchangeRight | Multifamily | Unavailable | 2018-01-30 | 2021-11-17 | 3.80 | 17.91% | 1.68x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 1](https://baker1031.com/data/full-cycle/investments/47ea308f47bf70fc.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2012-04-05 | 2019-08-29 | 7.40 | 10.58% | 1.51x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 10](https://baker1031.com/data/full-cycle/investments/da9c1919ae012927.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2015-09-03 | 2022-10-27 | 7.15 | 8.24% | 1.58x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 11](https://baker1031.com/data/full-cycle/investments/b1e036d89d136d9a.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2015-12-04 | 2022-08-31 | 6.74 | 7.63% | 1.51x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 12](https://baker1031.com/data/full-cycle/investments/79f77c9612f0eff7.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2016-04-14 | 2019-12-18 | 3.68 | 11.30% | 1.40x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 13](https://baker1031.com/data/full-cycle/investments/c32e1573513a23a8.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2016-09-01 | 2020-10-29 | 4.16 | 10.74% | 1.43x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 14](https://baker1031.com/data/full-cycle/investments/7b0585097187328b.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2016-12-02 | 2021-03-25 | 4.31 | 10.73% | 1.46x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 15](https://baker1031.com/data/full-cycle/investments/251515eab15c10b1.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2017-03-02 | 2021-11-01 | 4.67 | 10.82% | 1.47x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 16](https://baker1031.com/data/full-cycle/investments/19df574317445fa5.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2017-05-31 | 2022-03-02 | 4.75 | 11.25% | 1.51x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 17](https://baker1031.com/data/full-cycle/investments/74779e01401611b7.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2017-08-10 | 2022-06-24 | 4.87 | 10.34% | 1.49x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 18](https://baker1031.com/data/full-cycle/investments/c45ce3c5b61f733c.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2017-11-10 | 2022-07-26 | 4.71 | 10.00% | 1.46x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 19](https://baker1031.com/data/full-cycle/investments/7c9bbb1e339fd768.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2017-12-21 | 2022-08-24 | 4.67 | 10.29% | 1.48x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 2](https://baker1031.com/data/full-cycle/investments/d5f4ed3c371eb338.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2012-09-01 | 2019-09-26 | 7.07 | 12.12% | 1.79x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 21](https://baker1031.com/data/full-cycle/investments/69288cf8590d4210.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2018-04-09 | 2022-09-14 | 4.43 | 8.88% | 1.38x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 22](https://baker1031.com/data/full-cycle/investments/f5e5326a9fe922eb.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2018-06-07 | 2023-08-31 | 5.23 | 8.29% | 1.42x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 28](https://baker1031.com/data/full-cycle/investments/0b07075051731c18.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2019-07-10 | 2024-11-19 | 5.36 | 9.02% | 1.48x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 3](https://baker1031.com/data/full-cycle/investments/27f3037ca34b2a62.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2013-02-08 | 2020-09-29 | 7.64 | 11.50% | 1.88x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 4](https://baker1031.com/data/full-cycle/investments/4695f28eb305f1cb.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2013-09-23 | 2021-03-30 | 7.52 | 9.98% | 1.74x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 5](https://baker1031.com/data/full-cycle/investments/45d4708689712ab6.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2014-02-04 | 2021-12-09 | 7.84 | 9.43% | 1.72x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 6](https://baker1031.com/data/full-cycle/investments/8ab1a61d500ddd99.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2014-05-09 | 2022-04-01 | 7.90 | 8.91% | 1.68x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 7](https://baker1031.com/data/full-cycle/investments/75e4281e8da67e80.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2014-09-24 | 2022-02-09 | 7.38 | 10.57% | 1.76x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 8](https://baker1031.com/data/full-cycle/investments/1658463d28494bb8.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2015-02-02 | 2019-10-15 | 4.70 | 11.23% | 1.51x | Unavailable | Break-even or better |
| [Net-Leased Portfolio 9](https://baker1031.com/data/full-cycle/investments/7e19cc8ac297f0b8.md) [41](#note-41) [44](#note-44) | ExchangeRight | Net lease retail | Unavailable | 2015-04-21 | 2022-09-07 | 7.38 | 8.27% | 1.59x | Unavailable | Break-even or better |
## Footnotes
### 21. ExchangeRight: source basis and comparison samples
Source basis: Noncash / mixed. 28 investments are listed. Annual return: 28 available; Hold period: 28 available; Equity multiple: 28 available; Success Rate: 28 available. Missing values and the specific exclusions determine each metric’s sample. Qualifications: 28 outcomes include source valuations or in-kind consideration rather than confirmed final cash proceeds.
### 41. Source-reported annual return
The annual return is reported by the source. Source AAR definitions, fees and periods can differ, so direct comparison may be unreliable. Consult the investment’s source definition and current PPM.
### 44. Valuation or in-kind exit
The source uses a valuation, NAV or in-kind consideration, including some 721 outcomes. The reported result and nominal break-even indication do not establish final cash realization.
## Proprietary compilation and use
Baker 1031 Investments, LLC’s selection, organization, annotations and presentation form a proprietary compilation. Underlying sponsor materials and third-party content remain subject to their respective owners’ rights. No open-data or redistribution license is granted. Contact Baker 1031 for permission to reproduce the compilation.
Methods: https://baker1031.com/data/full-cycle/methodology.md
Securities offered through Aurora Securities, Inc., member FINRA/SIPC. Baker 1031 Investments, LLC is independent of Aurora Securities, Inc. Contact: hello@baker1031.com.