February 22, 2022
February 22, 2022 | Source: BRAUVIN
Brauvin Real Estate announces the sale of 59 net lease properties to a public REIT for a sale price of $185,000,000. The portfolio included properties located in 18 states throughout the country leased to 16 tenants. Approximately 50% of the tenancy held investment grade credit ratings.
The sale was the result of a robust auction process run by Brauvin that generated seven full-portfolio offers. The ultimate buyer was selected based on its offering price, strong financial ability and demonstrated history of closing complex, multi-asset transactions. The transaction closed in late December, 2021.
“The sale of the Brauvin Net Investments portfolio completes the investment cycle of our 17th investment fund. The diversified portfolio of assets performed well throughout the pandemic and demonstrated the resiliency of the Brauvin strategy. We are pleased to have generated strong returns throughout the investment term and to have sold the portfolio into a very strong net lease market.” said James L. Brault, CEO of Brauvin. “We now seek to continue the same strategy with the acquisition of another $200 million in assets for our current vehicle, Brauvin 18, Inc.”
Brauvin was represented in the sale by John Morse and Andrew Hahn of Patzik, Frank and Samotny.
Brauvin invests in retail and retail-related net lease properties. Brauvin creates investment entities with a defined business plan and life cycle. Brauvin has been exclusively acquiring net lease properties since 1986 and has acquired assets in 38 states. Brauvin is currently seeking $200 million in new property acquisitions for its latest investment fund, Brauvin 18, Inc. Brauvin investors have included institutional investors, opportunity funds, family offices and high net worth individuals. Brauvin’s key executives average more than 15 years with the company and more than 25 years of real estate experience.
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