Westlake Village, California – Today we have information on a REIT from California. LTC Properties, Inc. has entered into agreements to buy four assisted living properties which will be Triple Net Lease Properties. These Commercial Properties, are assisted living properties with a total of 241 units for an aggregate purchase price of $26.9 million. In addition to the aggregate purchase price, LTC Properties has agreed to pay $0.1 million representing half of this seller’s prepayment penalty on its Commercial Loan.
Three of these Investment Properties are located in Florida and one is located in Mississippi. The Investment Property transactions are scheduled to close concurrently on or about October 29, 2010. Simultaneous with the purchases, LTC Properties will lease the newly acquired Commercial Buidings and they will become net lease properties. These NNN Investment Properties will fall under a 10-year triple net lease.
These “NNN” triple net leases will be with an affiliate of the third party operators that managed or operated the properties under leases with the sellers. We have seen Cap Rates with 7% to 9% on assisted living net lease properties if you are in the market for these.
Regarding the funding for the Triple Net Lease Properties acquisitions, they will be financed by the use of funds from the Company’s unsecured line of credit. LTC Properties is a self-administered real estate investment trust “REIT” that primarily smartly invests in long-term care and other health care related facilities through mortgage loans, facility net lease transactions and other investments.
Feel free to Contact us HERE to sell your existing Net Lease Properties portfolio. We have relationships with 1,000’s of commercial real estate investors interested in purchasing net lease investments. We provide tremendous marketing and exposure for your net lease properties, resulting in the highest pricing and quicker closings.
List of other Retail Single Tenants that may be available as a Net Lease Property:
•AutoZone Net Lease Property
•Burger King Net Lease Property
•CVS Net Lease Property
•FedEx Net Lease Property (Federal Express Net Lease Property)
•Home Depot Net Lease Property
•Kohl’s Net Lease Property
•Kroger Net Lease Property
•Lowe’s Net Lease Property
•McDonald’s Net Lease Property
•Publix Net Lease Property
•Safeway Net Lease Property
•Staples Net Lease Property
•Target Net Lease Property
•Walgreens Net Lease Property
•Wal-Mart Net Lease Property
•Wendy’s Net Lease Property
To obtain quotes on CTL financing or Non-Recourse Loans and mezzanine loans or a variety of commercial real estate loan scenarios contact Loanrise.com.