{"id":1004723394,"date":"2024-07-31T03:16:35","date_gmt":"2024-07-31T11:16:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004723394"},"modified":"2024-07-31T06:08:36","modified_gmt":"2024-07-31T14:08:36","slug":"orion-real-estate-buys-12-asset-net-lease-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/orion-real-estate-buys-12-asset-net-lease-portfolio\/","title":{"rendered":"Orion Real Estate Buys 12-Asset Net Lease Portfolio"},"content":{"rendered":"\n<p>Orion Real Estate Group has completed the nearly $50 million acquisition of a 12-property net lease retail portfolio comprising more than 94,000 square feet across three states and five major metropolitan markets.<\/p>\n\n\n\n<p>JLL\u202fCapital Markets represented the seller, a South Florida-based family office that held the investment for a decade as an allocation of their fixed-income portfolio and procured the buyer. According to JLL, the seller has other investment opportunities for which to use the capital.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Southeast-Net-Lease-Retail-Portfolio.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004723437\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/orion-real-estate-buys-12-asset-net-lease-portfolio\/southeast-net-lease-retail-portfolio\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Southeast-Net-Lease-Retail-Portfolio.jpg\" data-orig-size=\"1310,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Southeast Net Lease Retail Portfolio\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Southeast-Net-Lease-Retail-Portfolio.jpg?w=1024\" height=\"469\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Southeast-Net-Lease-Retail-Portfolio.jpg?w=1024\" alt=\"JLL\u202fCapital Markets arranged Orion Real Estate\u2019s nearly $50 million acquisition of a 12-property net lease retail portfolio.\" class=\"wp-image-1004723437\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Southeast-Net-Lease-Retail-Portfolio.jpg 1310w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Southeast-Net-Lease-Retail-Portfolio.jpg?resize=300,137 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Southeast-Net-Lease-Retail-Portfolio.jpg?resize=768,352 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Southeast-Net-Lease-Retail-Portfolio.jpg?resize=1024,469 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">JLL\u202fCapital Markets arranged Orion Real Estate\u2019s nearly $50 million acquisition of a 12-property net lease retail portfolio. <em>Image courtesy of JLL\u202fCapital Markets<\/em><\/figcaption><\/figure>\n\n\n\n<p>The portfolio consists of 11 single-tenant and one two-tenant properties, including bank branches, a fitness center, pharmacy, urgent care facility and quick service restaurant. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/why-net-lease-is-poised-for-higher-transaction-volumes\/\">Why Net Lease Is Poised for Higher Transaction Volumes<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The assets have 6.5 years of weighted average remaining lease term and nearly 70 percent of the tenants hold investment grade credit ratings. The properties are positioned in major metropolitan areas throughout Florida, Texas and Illinois.<\/p>\n\n\n\n<p>\u201cIn this portfolio, because not all the leases are rolling at the same time, the staggered expirations and minimal landlord expense responsibilities created a rare opportunity to control a portfolio of mid-term net lease assets with a combination of strong yield, credit and intrinsic real estate,\u201d Director Alex Sharrin told <em>Commercial Property Executive<\/em>.<\/p>\n\n\n\n<p>\u201cIn a downside scenario, wherein your tenants do not renew, the staggered lease expirations help the owner because it doesn\u2019t have to carry costs across multiple assets. It also helps with the compound annual growth rate and rent growth throughout the hold period.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-positive-leverage\">Positive leverage <\/h2>\n\n\n\n<p>Sharrin told <em>CPE<\/em> that this NNN portfolio was offered at a cap rate above where one could finance the transaction in today\u2019s capital markets (positive leverage).<\/p>\n\n\n\n<p>\u201cThere are not a lot of quality NNN portfolios of scale that offer positive leverage today,\u201d he said.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/why-net-lease-buyers-have-the-upper-hand\/\">Cap rates in the single-tenant net lease sector<\/a> increased for the ninth consecutive quarter within all three sectors in the second quarter of 2024, <em>CPE<\/em> reported.<\/p>\n\n\n\n<p>JLL\u2019s Investment Sales and Advisory team representing the seller was led by Sharrin, senior director Jeff Cicurel, and associates Eric Osika and Noel O\u2019Donnell.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JLL\u202fCapital Markets arranged the $50 million transaction.<\/p>\n","protected":false},"author":3568,"featured_media":1004723438,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,23891,21742,21749,32781],"tags":[44006],"class_list":["post-1004723394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-national","category-latest","category-retail","category-southeast","tag-jll-capital-markets"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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