Investors Chasing Net-Lease Properties
By BethMattsonTeig
Investors chasing net-lease properties are upping the ante. Instead of paying million for a single property, they are forking over 0 million for an entire portfolio. Buyers are increasingly drawn to the portfolio deals because they provide a vehicle to place a large volume of money relatively quickly in an intensely competitive investment arena.
Corporate portfolio sale-leasebacks have hit record levels in the past year with major deals from retailers such as CVS and ShopKo posting staggering numbers. In December, CVS Corp. announced that it had initiated a sale-leaseback of 340 owned or ground leased pharmacy properties in 29 states for .3 billion. ShopKo clinched a deal to sell and lease back 112 ShopKo properties and 66 Pamida properties for 5 million. Corporations are using the capital to finance everything from aggressive expansion campaigns to leveraged buyouts.
These two deals represent the
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