●Common: underwriting shows that the investment will likely return capital to investors.

Current Offerings / ExchangeRight Net-Leased Portfolio 76 DST

Available506(b)721 Exchange: Optional

ExchangeRight Net-Leased Portfolio 76 DST

SponsorExchangeRight

LocationGeorgia, Louisiana, South Carolina, Ohio, Illinois

Property TypeRetail, Industrial, Net Lease

$75,480,000

Total Investment

43.32%

LTV

5.14%

Income Average

5 years

Estimated Hold Period

Investment Description

ExchangeRight Net-Leased Portfolio 76 DST is a $75.48 million Delaware Statutory Trust offering interests in eight 100%-occupied, single-tenant net-leased properties across Georgia, Louisiana, South Carolina, Ohio, and Illinois. The 375,747-square-foot portfolio comprises seven retail assets and one Interstate Batteries industrial facility, with a stated 14.7-year weighted-average lease term. Interstate Batteries (42.86% of Year 1 NOI) and BJ's Wholesale Club (30.51%) are the principal income contributors.

The primary underwriting is not solely the eight properties. The Trust is a passive owner: sponsor-owned ExchangeRight NLP 76 Master Lessee, LLC receives tenant rents, assumes tenant-lease obligations, and pays fixed Annual Base Rent to the DST. The Master Lease is guaranteed by ExchangeRight Income Fund Operating Partnership, LP, an affiliate of the Sponsor. Investor distributions therefore depend materially on the creditworthiness, liquidity, and operating capacity of the affiliated ExchangeRight platform, while the targeted optional 721 exchange into the ExchangeRight Essential Income REIT depends on REIT capital availability and Manager-controlled execution. The $32.70 million Bank of America loan is fixed at 5.640%, interest-only for five years, and represents 43.32% stated offering LTV.

Investment Sponsor

ExchangeRight

Availability Status

Available

Registration

506(b)

721 Exchange

Optional

Property Type

Retail, Industrial, Net Lease

Equity

$42,780,000

Debt

$32,700,000

Total Investment

$75,480,000

LTV

43.32%

Initial Reserves

$3,467,074

Lender

Bank of America, N.A.

Interest Rate

5.64%

Amortization

Interest-only for entire five-year term; principal balloon at maturity

Loan Term

5 years

Estimated Hold Period

5 years

Projected Cash Flow

Cash Flow Basis: Projected Investor Distribution · Forecast Through: Year 5 · Post-Forecast Treatment: Projected Sale / 721 Exchange

PPM provides annualized investor cash-flow returns of 5.00%, 5.02%, 5.13%, 5.23% and 5.33% for Years 1-5. Later income fields are blank because the projected 721 exit occurs after this period, not because cash flow is 0%.

Highlights

Affiliated Master Lease guaranty: ExchangeRight Income Fund Operating Partnership, LP guarantees the Master Lease between the Trust and sponsor-owned ExchangeRight NLP 76 Master Lessee, LLC. The guaranty provides a contractual payment layer between tenant-level rent performance and DST distributions, but it is affiliated-platform credit support rather than an independent third-party guaranty.

Strong property-level debt coverage: Year 1 NOI of $4.221 million implies a 12.91% debt yield and approximately 2.26x DSCR against $1.870 million of stated annual debt service.

Diversified collateral: eight fully occupied single-tenant assets across five states and seven markets, with seven retail assets and one industrial facility.

Long contractual duration: the portfolio carries a stated 14.7-year weighted-average lease term, with lease expirations ranging from 2033 to 2046.

Multiple targeted liquidity paths: investors may elect a 721 exchange into the Essential Income REIT, a 1031 exchange, cash-out, or a combination, subject to platform capital availability and Manager-controlled execution.

Jerry Baker's Notes

Before you read these notes

Jerry Baker's Notes are his opinion, shared to help frame a conversation. They are not investment advice, a recommendation, or an offer, and they are not a substitute for the offering documents. Review the Private Placement Memorandum for complete information, including risk factors, before making any decision.

I understand · Show the notes

Institutional view: this is a two-level credit exposure. First, the underlying tenant leases generate property cash flow. Second, the sponsor-owned Master Lessee and its affiliated ExchangeRight Income Fund Operating Partnership guarantor must perform under the Master Lease; the Trust's sole pre-disposition income source is Master Lease rent, not direct tenant rent. Property metrics are supportive — 43.32% stated LTV, 12.91% Year 1 debt yield, approximately 2.26x DSCR, 14.7-year WALT, and five-year fixed-rate debt — but they do not eliminate correlated platform risk because the Master Lessee, guarantor, Manager, and targeted REIT aggregation path are within the ExchangeRight ecosystem.

The 721 exchange is optional, but timing and availability are not guaranteed. The PPM targets an exit before Year 5, whereas Exhibit G permits a period of up to nine years without an exit. The interest-only loan leaves the full $32.70 million balance outstanding at maturity, concentrating refinancing, qualified-transfer, or disposition risk in 2031. Interstate Batteries and BJ's represent 73.37% of Year 1 NOI, and Interstate Batteries is private and unrated.

Property Addresses

1105 Long Drive, Woodstock, GA 30189

214700 Old Hammond Highway, Baton Rouge, LA 70816

3437 North Highway 113, Carrollton, GA 30117

442260 Pumpkin Center Road, Hammond, LA 70403

520203 US-190, Hammond, LA 70401

6254 Harbison Boulevard, Columbia, SC 29212

75141 Scarborough Boulevard, Columbus, OH 43232

84000 East 106th Street, Chicago, IL 60617

Offering Documents

Download all documents (.zip)

NLP 76 - PPM.pdfDownload NLP 76 - Executive Summary.pdfDownload

Documents are provided by the sponsor for registered investors. Review the Private Placement Memorandum in full, including risk factors, before making any decision.

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