The investments comprise properties triple-net leased to industry-leading tenants with a weighted average lease term
of approximately 20 years.
It invested $97.4 million in acquisitions comprising five properties, with a weighted average lease term
of 15.8 years, a weighted-average initial cash yield of approximately 6.44% and an economic yield of 7.60%.
This long term tenure underpins the portfolio Weighted Average Lease Term
("WALT") of over eighteen years (based on initial lease terms, not including rights of renewal).
Our newer vintage portfolio of granular net lease properties is performing at a high level with same-store contractual cash NOI growing 2.0% in the quarter, occupancy increasing 50 bps to 99.8%, and our sector leading weighted average lease term
remaining flat at 14.3 years.
The sale-leaseback transaction with Sainsbury's is executed at a 5.31% GBP initial cap rate, includes annual rent increases over the duration of the lease term, and carries a weighted average lease term
of approximately 15 years.
The portfolio has a weighted average lease term
of over three years remaining and contains national and regional tenants.
Stable Rental Income: The company's portfolio generates predictable cash flow with annual CPI-based rent bumps of approximately 1.5% over a 15-to-20-year lease term and consistent occupancy; NNN had a weighted average lease term
of 11.4 years as of March 31, 2018.
The price reflects an in-going yield of about 5.4% without transaction costs and the property built in 2010, is fully leased with a weighted average lease term
of about 4.7 years.
The property was acquired for $35 million and is currently 81 percent occupied by a tenant base with a weighted average lease term
of seven years.