ARCTRUST Personal Capital acquired a seven-property, single-tenant web lease portfolio comprised of two Pinnacle Financial institution places, three CVS Pharmacy places and two NAPA Auto Components places throughout six states. Vendor(s) and pricing weren’t disclosed.The portfolio will probably be provided to accredited traders as a Delaware statutory belief, ARCTRUST Alternate II DST.
The portfolio contains properties in North Carolina, Alabama, Kentucky, Michigan, Tennessee and Virginia. It includes a weighted common remaining lease time period of roughly 13.6 years, with contractual hire will increase and renewal choices throughout all property. Every property is leased on an absolute triple-net foundation.
“This portfolio displays ARCTRUST’s continued deal with buying important, service-oriented actual property leased to creditworthy tenants underneath long-term web leases,” stated Chris Wadelin, CEO of ARCTRUST Personal Capital. “Combining nationwide retail pharmacy, automotive aftermarket, and established neighborhood banking places throughout six states offers traders a degree of tenant and geographic diversification that we imagine might align nicely with the wants of 1031 alternate traders searching for sturdy earnings and capital preservation.”
