Net Leased Properties Portfolio Sold For $38.5 M

North Palm Beach, Florida - Net Lease Properties has information on a huge deal that has closed. A commercial real estate portfolio made up of net lease properties had 8 properties sold out of 11. The buyer was American Realty Capital Trust, Inc. and the seller of the net lease properties was the California State Automobile Association.

The aggregate purchase price for the eight net leased properties was approximately $38.5 million. American Realty Capital Trust (ARCT) funded the acquisitions of the properties with net proceeds received from the sale of its common stock. As of August 11, 2010, it had raised approximately $299,177,033 total gross proceeds in connection with its initial public
offering.

American Realty Capital is a commercial real estate advisory firm that invests in single-tenant, freestanding properties throughout the United States, that are net-leased on a long-term basis to investment-grade and other creditworthy tenants.

A description of the (8) Net Leased Properties purchased:

(1) CVS Pharmacy - This property is a free standing, retail store net leased to CVS located in Decatur, Georgia. The property contains 13,137 square feet of gross leaseable area. The lease is a triple net lease whereby CVS is required to pay substantially all operating expenses, including all costs to maintain and repair the roof and structure of the building, and the cost of all capital expenditures, in addition to base rent.

(5) Walgreens Stores - This portion of the net lease portfolio is five freestanding, pharmacies net leased to Walgreens. These commercial real estate investments are located in Austin, Texas, Chelsea, Alabama, Joliet, Illinois, Marysville, Ohio and Upper Arlington, Ohio. The leases are triple net whereby Walgreens is required to pay substantially all operating expenses.

(2) Fifth Third Bank Properties - This was a purchase of two free standing, fee simple bank branches for Fifth Third located in Montgomery, Illinois and Schaumburg, Illinois. The leases contain rent escalations of 10% every five years. The leases are triple net leases whereby Fifth Third is required to pay substantially all operating expenses.

Net Lease Properties & Non Recourse Commercial Loans

If you feel this is the right time to invest in Commercial Real Estate, Multi-Family Apartment Buildings, Shopping Centers or Net Lease Properties then contact us, HERE. We can also assist you with your Non Recourse Loan and Net Lease Funding to purchase a CVS, Walgreens, Target, Publix, Kohl's, Burger King, KFC, Wendy's or other Net Lease Property.

2 Net Leased Properties Purchased by REIT

Kansas City, Missouri - Today, Net Lease Properties news is on Properties acquired by a REIT. The first property which was purchased is net leased to Kohl’s Department Stores, Inc. through January 31, 2025 (with tenant options to extend). This net lease property is located in Kansas City and the purchase price was $8.95 million. This net leased Kohl's is in the Wilshire Plaza Shopping Center, which is anchored by the commercial real estate investments, Super Target and Home Depot.

This Kohl's is approximately 88,248 square feet, a retail department store on approximately 7.47 acres.

The other net leased property that was purchased is located in Monroeville, Pennsylvania, a suburb of Pittsburgh. This commercial real estate investment is a 6,000 square foot retail property leased by a Men's Wearhouse pursuant to a long term net lease. The purchase price was approximately $1.3 million, including $300,000 of contracted building improvements.

The Buyer of both of these net lease properties was One Liberty. One Liberty is a New York based real estate investment trust (REIT) that specializes in the acquisition of real estate properties under long term net leases.

Net Lease Properties & Non Recourse Loans

If you feel this is the right time to invest in Commercial Real Estate, Multi-Family Apartment Buildings, Shopping Centers or Net Lease Properties then contact us, HERE. We can also assist you with your Non Recourse Loan and Net Lease Funding to purchase a CVS, Walgreens, Target, Publix, Kohl's, Burger King, KFC, Wendy's or other Net Lease Property.

Net Leased Shopping Center with Publix Anchor Sold

St. Cloud, Florida - Net Lease Properties news for Wednesday, August 11, 2010 is regarding one of our favorite net leased properties. Publix was founded in 1930, and is one of the largest and fastest-growing employee-owned supermarket chains in the United States.

Inland Real Estate Acquisitions, Inc. has purchased the grocery-anchored shopping center in St. Cloud, Florida. The shopping center known as the Publix Shopping Center was acquired for $9.363 million. This commercial real estate investment was constructed in 2003.

This net leased 78,820 square-foot Publix Shopping Center is currently 100% leased. Anchored by Publix Super Markets, Inc., which is the dominant supermarket chain operating in Florida. Publix has proven to be a very strong anchor for this shopping center.

The net leased property is located across from a Wal-Mart Supercenter and a Home Depot. This St. Cloud shopping center is approximately 20 miles south of the Orlando International Airport.

The Publix Shopping Center is leased to sixteen tenants. With this net lease, each tenant is required to pay its proportionate share of real estate taxes, insurance and common area maintenance costs. Publix, the anchor tenant of this property pays an annual base rent of approximately $536,000 under a lease that expires in October 2023.

Net Lease Properties & Non Recourse Loans

If you feel this is the right time to invest in Commercial Real Estate, Multi-Family Apartment Buildings, Shopping Centers or Net Lease Properties then contact us, HERE. We can also assist you with your Non Recourse Loan and Net Lease Funding to purchase a new property.

Fortune International Management Sells Miami Hotel

Miami Beach, Florida- Net Lease Properties news for today is coming from the Hotel Business in Miami Beach. The Seville Hotel has been purchased by the famous hotelier Ian Schrager and Marriott for $57.5 million. Marriott has plans to redevelop the hotel into a boutique brand called Edition. The Seville Hotel is a 12-story, 400-room commercial real estate property. The Hotel has The 278,547 square-feet and was built in 1955.

The previous owner of this Commercial Real Estate was 2901 Beach Ventures, which consisted of two equal partners, Lionstone Group and Fortune International Management. A partner with Arnstein & Lehr, lead the negotiations for the Sellers Group regarding the underlying loan with FirstBank Puerto Rico that resulted in the sale of the Seville Hotel to Marriott and hotelier Ian Schrager. The purchase price for the Hotel was for $57.5 million. We believe this was a Short Sale with almost $10 million being dismissed from the first mortgage value.

The famous hotelier, Ian Schrager, helped restart South Beach with his launch of the Delano hotel 15 years ago. Ian Schrager left Miami Beach a few years ago with the sale of his interest in the Morgans Hotel Group.

It is rare to find any net lease properties in Miami Beach. We do see a Retail Property, Free Standing Building as a Net Lease Investment with 10+ years left on the lease, in Miami. The Net Lease Property is marketed as a 8.50% Cap Rate.

Net Lease Properties & Non Recourse Loans

If you feel this is the right time to invest in Commercial Real Estate, Multi-Family Apartment Buildings, Major Hotels or Net Lease Properties then contact us, HERE. We can also assist you with your Non Recourse Loan and Net Lease Property Funding to purchase a new property.

Non Recourse Loans on Shopping Centers

Non Recourse Loans

Bloomfield Hills, Michigan - Net Lease Properties has news for the day on Taubman Centers. Taubman is known for its focus on dominant retail malls with the highest average sales productivity in the nation. Taubman Centers is a real estate investment trust (REIT) which is headquartered in Bloomfield Hills, Michigan and its Taubman Asia subsidiary is headquartered in Hong Kong.

The new reports are regarding the non recourse loan for Arizona Mills. Located at the Arizona Mills Interchange, at the intersection of Interstate I-10 and US Highway 60 in Tempe, Arizona. The refinancing of Arizona Mills was recently completed. The terms of the refinancing are a 10-year $175 million non-recourse loan. This Commercial Loan bears interest at an all-in rate of 5.83 percent, with amortizing principal based on 30 years. Taubman will use proceeds from the refinancing to pay off the existing $131.0 million 7.90 percent loan, with excess amounts distributed to the partners.

We previously reported on the Non Recourse Loan (Click Here) for The Mall at Partridge Creek, in Clinton Township, Michigan. A brief scenario on that Non recourse loan is it was a 10-year $82.5 million non-recourse loan which bears interest at an all-in rate of 6.25 percent.

Taubman believes that conditions in the capital markets have improved over the past several months, particularly for good sponsors and good assets. They are pleased with the amount of proceeds and interest rates on these two new non recourse loans.

Second quarter reports on Taubman Centers have Tenant sales per square foot which were very strong in the quarter, up 12.1 percent, bringing the year to date increase to 11.4 percent. They are led by their centers in Michigan and Florida, more than half of their centers had sales per square foot increases in the double digits for the quarter.

Leased space for Taubman's portfolio was 90.8 percent on June 30, 2010 compared to 91.3 percent on June 30, 2009. The average rent per square foot for the second quarter of 2010 was $43.20 versus $43.40 in the second quarter of 2009.

Net Lease Properties & Non Recourse Loans

If you feel this is the right time to invest in Commercial Real Estate, Multi-Family Apartment Buildings, Shopping Centers or Net Lease Properties then contact us, HERE. We can also assist you with your Non Recourse Loan and Net Lease Funding to purchase a new property.

3 Net Lease Properties Bought by NY REIT

Great Neck, New York - Net Lease Properties has news today concerning a sale and leaseback transaction. One Liberty Properties purchased a Portfolio of three Wendy's Properties. Old Liberty obtained the three Wendy's Old Fashioned Hamburger fast food restaurants which are located in Pennsylvania in this sale and leaseback transaction. The purchase price for this portfolio is $3.84 million and the net lease is for an initial 20 year term with a nine year renewal option. The seller of these net lease properties is a franchisee and operator of more than 100 Wendy's restaurants.

One Liberty is a New York based real estate investment trust (REIT) that specializes in the acquisition and ownership of a diverse portfolio of commercial real estate properties under long term net leases. One Liberty's net leases generally provide for contractual rent increases. These properties normally have all the operating expenses and most or all other property related expenses paid by the tenant.

As an example of this intelligent investing in net lease properties can be seen in One Liberty Properties second quarter results. One Liberty's Rental income for the three months ending June 30, 2010 was $10.6 million compared to $9.7 million for the three months that ended June 30, 2009. Rental income increases were due to the effect of acquisitions, as well as increased revenues associated with lease revisions within the existing portfolio.

Net Lease Properties & Commercial Real Estate Financing

If Shopping Centers, Net Lease Properties or Apartment Buildings are 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, Wendy's or other Net Lease property.

Commercial Real Estate News For South Florida

Palm Beach Gardens, Florida - Net Lease Properties news today centers around commercial real estate in south east Florida. First of all, a retail strip center in Palm Beach Gardens sold. This retail strip center has sold for $740,000. It is known as Clocktower Plaza as is located at 4203-4241 Northlake Boulevard, just west of the I-95 exit. This strip center sits behind a Gas Station at Northlake Boulevard and Keating Drive.
Reports are that this retail strip center was on the market only 22 days before going under contract.
We are not seeing too many Net Leased Properties for sale, in this area. An Office Building
Strip Center, Net Lease Investment with 3 years left on the lease, is being marketed in Lake Park, Florida.

For next bit of Commercial Real Estate News, we travel down to Pembroke Pines, Florida. Pembroke Pines sits west of Fort Lauderdale and Hollywood, not far from Miami Beach Commercial Real Estate investments.
The Taft Retail Center sold for $734,000. The Taft Retail Center is located at 1591 NW 77th Way in Pembroke Pines and is 6,700 square feet. The seller was a local private trust and sold the property to a foreign investor.
The property was built in 1973, and is currently 100% leased. The leases are to three long-term tenants. Taft Market & Deli leases a portion of the property as does Angie's Pet Spa & Boutique, and Bitter Blue Lawn & Garden.
This area currently has a net leased property, that is an Office Building being marketed.

Net Lease Properties & Financing

If Shopping Centers, Net Lease Properties or Apartment Buildings are 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 Net Lease property.