Pasadena-Based ExchangeRight Secures 50 Lease Renewals, Reports Full Rent Collection Through Mid-2025

ExchangeRight, a real estate investment firm headquartered in Pasadena, announced it has secured 50 lease renewals and sustained 100 percent rent collection across its Essential Income REIT and broader net lease platform through the second quarter of 2025, according to a press release issued Tuesday.

The company reported a 99.86 percent occupancy rate as of June 30, which it said ranks among the highest in the net lease sector.

The renewals involved 11 national tenants operating essential businesses, including industry-leading retailers and service providers, with an average lease extension of 64 months and a weighted average rent increase of 6.15 percent.

“As we execute our aggregation strategy and scale our REIT platform, each renewal strengthens long-term income potential for investors,” said Joshua Ungerecht, a managing partner at ExchangeRight. “Our focus remains on stewarding investor capital faithfully by prioritizing operational excellence, creditworthy tenants, and recession-resilient assets throughout all market cycles.”

The firm draws attention to its tenant retention performance, citing a 25-to-1 ratio of lease renewals and re-leases to vacancies. Only 17 leases—representing 0.60 percent of total platform rents—are scheduled to expire within the next 12 months, which the company said minimizes near-term rollover risk, it said.

ExchangeRight reportedly manages more than $6.6 billion in assets across 1,300 properties totaling 26 million square feet in 47 states, as of July 31. Its vertically integrated platform structures and manages net-leased portfolios backed primarily by investment-grade corporations operating in necessity-based retail and healthcare sectors.