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CHICAGO, July 18, 2012 — Jones Lang LaSalle’s (NYSE: JLL) Capital Markets experts today announced the firm is bringing to market a portfolio of 40 primarily single-tenant, net lease properties, which have a combined in place NOI of approximately $47 million. The Net Lease Strategic Assets Fund was assembled in 2007 and 2008 by a joint venture between affiliates of Inland American Real Estate and Lexington Realty Trust and is comprised of industrial, office, retail, golf course and medical office properties and located throughout 23 states, with the majority concentrated in the Southwest, Southeast and Midwest regions.
Managing Directors Guy Ponticiello, John Huguenard, Rob Bickel and Mike Hochanadel are leading the Jones Lang LaSalle team on this offering.
“The portfolio provides an investor with the opportunity to acquire in a single transaction, a large portfolio of high quality assets that would require many years to assemble if purchased or developed individually. A national investment opportunity of this caliber rarely occurs and the owners are willing to explore partial or full portfolio sale structures,” said Ponticiello. “These primarily absolute net lease credit tenants provide investors with stable, long-term cash-flowing assets.”
The 5.6-million-square-foot portfolio is currently approximately 98 percent occupied, backed by 34 unique tenants. Nearly 70 percent of the in place NOI is secured by investment-grade tenants and tenant sponsors, with an average remaining lease term of approximately five years. The portfolio encompasses a variety of properties types including:
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