{"id":1004188536,"date":"2017-08-24T08:55:48","date_gmt":"2017-08-24T16:55:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004188536"},"modified":"2022-12-09T02:43:27","modified_gmt":"2022-12-09T10:43:27","slug":"stonemont-buys-1-3b-net-lease-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-1-3b-net-lease-portfolio\/","title":{"rendered":"Stonemont Buys $1.3B Net Lease Portfolio"},"content":{"rendered":"

By IvyLee Rosario<\/p>\n

\"One<\/a>

One of the portfolio properties: the MetLife building, 501 US-22 Bridgewater, N.J.<\/p><\/div>\n

In a $1.3 billion deal, Stonemont Financial Group has acquired 100 triple net lease properties in 20 states. The portfolio comprises retail, industrial and office assets, with 96 percent of its total operating income coming from investment grade tenants.\u00a0<\/p>\n

CBRE Capital Markets’ Guy Ponticiello and James Scott arranged the transaction on behalf of the seller, Oak Street Real Estate Capital.\u00a0Tom Traynor, James Millon and Peter Marino secured the loan on behalf of the borrower.<\/p>\n

Acquisition Financing\u00a0<\/h2>\n

The Debt & Structured Finance team secured $1.1 billion in acquisition financing for Stonemont.\u00a0Financing was provided at 83 percent LTV and includes a floating-rate CMBS loan and two layers of mezzanine debt. J.P. Morgan Chase provided the financing, along with Deutsche Bank and Barclays as co-lenders.<\/p>\n

\"One<\/a>

One of the portfolio properties: the Shire building, 1200 Lakeside Drive, Bannockburn, Ill.<\/p><\/div>\n

\u201cThe portfolio\u2019s credit quality, lease terms and real estate assets represented one of the best portfolios to hit the market in many years,\u201d<\/em> Ponticiello told Commercial Property Executive. \u201cThis sale is evidence that investors continue to seek yields with the safety of cash flows provided by institutional net lease offerings like this portfolio.\u201d<\/em><\/p>\n

Last month, CBRE Capital Markets orchestrated the sale of the\u00a01.8 million-square-foot Centre Square, a two-tower office complex in Philadelphia<\/a>\u2019s central business district, to Nightingale Properties LLC for $328 million. The sale marked the largest office transaction in the city\u2019s history based on square footage.\u00a0<\/p>\n

Images courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

CBRE Capital Markets arranged the transaction on behalf of the seller, Oak Street Real Estate Capital, and secured $1.1 billion in acquisition financing for Stonemont. The deal encompasses 100 assets in 20 states. <\/p>\n","protected":false},"author":746,"featured_media":1004188538,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,23891,21742],"tags":[32934,32789,32791,35495,35274,37350,37349],"class_list":["post-1004188536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-national","category-latest","tag-barclays","tag-cbre","tag-deutsche-bank","tag-guy-ponticello","tag-jpmorgan-chase","tag-oak-street-real-estate-capital","tag-stonemont-financial-group"],"acf":[],"yoast_head":"\nStonemont Buys $1.3B Net Lease Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-1-3b-net-lease-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stonemont Buys $1.3B Net Lease Portfolio\" \/>\n<meta property=\"og:description\" content=\"CBRE Capital Markets arranged the transaction on behalf of the seller, Oak Street Real Estate Capital, and secured $1.1 billion in acquisition financing for Stonemont. The deal encompasses 100 assets in 20 states.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-1-3b-net-lease-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-24T16:55:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:43:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/MetLife-Bridgewater-NJ-00000002.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-1-3b-net-lease-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-1-3b-net-lease-portfolio\/\",\"name\":\"Stonemont Buys $1.3B Net Lease Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-1-3b-net-lease-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-1-3b-net-lease-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/MetLife-Bridgewater-NJ-00000002.jpg\",\"datePublished\":\"2017-08-24T16:55:48+00:00\",\"dateModified\":\"2022-12-09T10:43:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-1-3b-net-lease-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-1-3b-net-lease-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-1-3b-net-lease-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/MetLife-Bridgewater-NJ-00000002.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/MetLife-Bridgewater-NJ-00000002.jpg\",\"width\":800,\"height\":620,\"caption\":\"One of the portfolio properties: the MetLife building, 501 US-22 Bridgewater N.J.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stonemont-buys-1-3b-net-lease-portfolio\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Stonemont Buys $1.3B Net Lease Portfolio\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\",\"name\":\"IvyLee Rosario\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"caption\":\"IvyLee Rosario\"},\"description\":\"IvyLee Rosario is a Senior Associate Editor for Commercial Property Executive and Multi-Housing News. 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