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Posted: October 16, 2018
Outside the Region: Five Point Real Estate facilitates sale of Milan Institute for $1.85 million
San Antonio, TX Five Point Real Estate handled the closing of single tenant net leased investment property. The subject, home to a Milan Institute learning center, was sold to a private investor for $1.85 million which represented a 15.26% cap rate. The transaction consisted of a sale-leaseback between the seller who is the owner of Milan Institute, and the purchaser who is a private real estate company located in New York.
The purchaser was attracted to the high yield and long term lease that is rarely found in the NYC metropolitan market. The immediate value in high returns and low cost basis was an immediate attraction to the purchaser who closed within 30 days of being presented with the offering.
Five Point Real Estate is a boutique investment sales firm located in Melville, NY. Founded in 2017, the firm has closed in excess of $250 million across all asset classes - multifamily, single tenant net lease, multi-tenant office and retail shopping centers.
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