Thursday, April 7, 2011

stan johnson company completes sale of 10-property retail portfolio for $10.2 million

TULSA, OK– Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 10-property retail portfolio, 100 percent occupied by CVS/pharmacies, to a Massachusetts-based private investor for $10.2 million. 

Encompassing more than 102,000 square feet, the retail properties are located in Connecticut, Kentucky (3 locations), Massachusetts, Ohio (2 locations), South Carolina (2 locations) and Virginia.

David Clary (lower right photo)  with Stan Johnson Company represented the seller, a Texas-based private owner, as well as the buyer.  

The properties were encumbered by high leverage, zero cash flow structured financing that was assumed by the buyer.

“The buyer of the properties is an experienced owner who was attracted by the investment grade credit, absolute net leases and high leverage, fully-amortizing financing requiring a low level of purchase equity,” said Clary.  “Based on this, the buyer believed the investment offered significant, long-term residual value”

Clary went on to say that “zero cash flow structured investments are an area of expertise for our firm.  We have represented buyers and sellers across the country on these and have a deep understanding of the structure.

 The CVS portfolio transaction was significant in that we have now surpassed the $1.3 billion mark on zero cash flow sales.”

Contact: David Ebeling, Ebeling Communications, (949) 278-7851 

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