We are an internally managed real estate company that acquires, owns and manages a diversified portfolio of single-tenant, retail commercial real estate subject to long-term net leases with high credit quality tenants across the United States. Our growth and diversification strategy focuses on tenants in industries where a physical location is critical to the generation of sales and profits, with a focus on necessity goods and essential services in the retail sector, including discount stores, grocers, drug stores and pharmacies, home improvement, automotive service and quick-service restaurants, which we refer to as defensive retail industries. We believe these characteristics make our tenants’ businesses e-commerce resistant and resilient through all economic cycles. We generally target properties with a purchase price between $1 million and $10 million, a segment of the market that we believe is undercapitalized and where we can maintain a consistent pipeline of relatively small assets to acquire on attractive terms without the threat of broad competition.
Our diversified portfolio consists of 163 single-tenant retail net leased properties spanning 34 states, with tenants representing 53 different brands or concepts across 23 retail sectors. Our top 10 tenants are 7-Eleven, Walmart, CVS, Ollie’s Bargain Outlet, Lowe’s, Advance Auto Parts, Dollar General, Walgreens, Home Depot and Kohl’s.
|Address||5910 N. Central Expressway Suite 1600 Dallas, TX 75206|
|Revenues||$20.0 mil (last 12 months)|
|Net Income||$-6.1 mil (last 12 months)|
|Price range||$19.00 - $21.00|
|Est. $ Volume||$310.0 mil|
|Manager / Joint Managers||Wells Fargo Securities/ BofA Securities/ Citigroup/ Stifel/ Jefferies|
|CO-Managers||BMO Capital Markets/ BTIG/ Capital One Securities/ KeyBanc Capital Markets/ Regions Securities/ Truist Securities/ Comerica Securities/ Ramirez/ Scotiabank|
|Expected To Trade:||8/13/2020|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|