The transaction contributes to a multibillion-dollar offering targeting diverse investor share classes

October 21, 2025

On October 15, ExchangeRight Income Fund took another step in its ongoing capital raise by issuing 2,024 Class D common shares through a private offering. The sale brought in $55,000 in gross proceeds and contributes to a broader fundraising effort capped at $2.165 billion .

This isn’t a one-off transaction—it’s part of a multi-class, continuous private placement that includes eight different share classes. Each class is designed to serve different investor segments. The Class D shares sold here were offered under Rule 506(c) of Regulation D , giving the company flexibility to engage accredited investors without going through a full SEC registration.

ExchangeRight markets itself as a REIT focused on properties that generate stable, essential income. Behind that strategy is a thesis centered on economic durability: the company concentrates on tenants it believes can weather recessions and avoid disruption from e-commerce trends. But even with this focus, the risks are real. Market uncertainty, lease renewals, creditworthiness, and broader financial system volatility all carry the potential to affect performance.

The filing reminds investors that forward-looking goals—like maintaining REIT status, generating cash flow, or delivering regular shareholder distributions—depend on how well the company executes across a range of financial and operational fronts.

While the $55K raised here represents a small slice of the larger capital goal, it reflects continued investor participation. The company is leaning into its strategy and working to scale the offering efficiently, with a clear focus on delivering value through a structured and diversified share program.