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Thursday, June 24, 2010

Sale-Leaseback Transaction for Triple Net Lease Properties

Escondido, California - Realty Income Corporation, the Monthly Dividend Company (R), has recently announced that they have signed a definitive purchase agreement to acquire approximately $269 million of winery and vineyard properties. These Commercial Real Estate properties will be under long-term, Triple Net Lease agreements.

Realty Income will acquire the properties subject to 20-year, Triple Net Lease agreements with Diageo Chateau & Estate Wines and guaranteed by Diageo Plc (NYSE ADR: DEO). Diageo Plc is one of the world's leading premium drinks company. The company produces and distributes more than 65 consumer brands in 180 markets worldwide and carries investment grade corporate debt ratings from Fitch Ratings (A-), Moody's Investors Service (A3) and Standard & Poor's Ratings Group (A-). Diageo's shares are listed on both, the London and on New York Stock Exchanges.

The Commercial Real Estate properties to be acquired are located throughout the Napa Valley in Napa County, California. Napa Valley continues to be the United States premier wine producing region. The Triple Net Lease properties are comprised of approximately 2,000 acres of vineyard properties as well as the winery, production, retail and visitor center buildings of both the Sterling Vineyards winery and the Beaulieu Vineyards (BV) winery with combined leasable space of approximately 400,000 square feet.
Diageo Chateau & Estate Wines will continue to manage and operate the properties and will retain ownership and marketing of their wine brands under this transaction. The vineyards being acquired in the sale-leaseback transaction have been in production for between 25 to 100 years, and the premium grapes grown and processed on the properties are used for several of Diageo's most highly regarded wine brands.

On a side note, Napa Valley is one of the most beautiful areas in our great country, America. If you ever get the chance, it would be a great getaway or perfect for a Romantic weekend with a loved one.

Commercial Real Estate Financing Still Available

If a Multifamily Apartment Complex is of interest to you then contact us, HERE. We can also assist you with your Commercial Real Estate Mortgage and Net Lease Funding to purchase a CVS, Walgreens, Target, Publix or other Triple Net Lease property.

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