Providence, Rhode Island — Two “NNN” Triple Net lease Transactions have taken place totaling $4,610,000. The properties were a TGI Friday’s location in Garner, NC and a Walgreen’s store in Providence, RI.
These two deals are symbolic of the two types of transactions happening today. The purchaser of the TGI Friday’s location, AMSTIN, LLC, is a private investor focused primarily on the quality of the underlying commercial real estate. The second transaction with the Walgreen’s, was purchased by FQWG, LLC. They purchased the Triple Net Walgreen’s completely based on the creditworthiness of the tenant, allowing the buyer to utilize a CTL loan.
Net Lease Properties Financed
CTL or Credit Tenant Lease loans became a popular form of financing over the past year as debt proved hard to obtain. NNN Walgreens property locations have been favorable candidates, as they sign long term leases of 25 years in length and are an investment grade tenant, rated “A” by Standard and Poors. These loans are fully amortizing over the remaining term of the lease with a Loan to Value ratio often in the 90% range.
Purchase Net Leased Property
When you are ready to purchase a net lease investment, there are some properties financing is in place which can be assumed. This is beneficial if you are conducting a 1031 tax free exchange. Contact us now to help you search for Net Leased Properties.
CTL Financing (Credit Tenant Lease) and mezzanine loans are available for a variety of commercial real estate loan scenarios with Loanrise.com.
List of 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