Keystone 1031 acquires portfolio of eight net leased retail properties for $35.65 million

February 22, 2022 - Front Section

Jericho, NY Keystone 1031 (KNPRE 1031), a sponsor of impact and tax advantaged investments, has acquired a $35.65 million diversified portfolio of eight net leased properties in major MSAs on behalf of their current DST offering, Keystone 1031 Net Leased Portfolio II.

The single-tenant properties total more than 62,000 s/f and are leased to nationally recognized brands Starbucks, 7-Eleven, Family Dollar, Jiffylube, O’Reilly Auto Parts, Sherwin-Williams, Walgreens, and Goodwill. The portfolio is diversified across seven states and focuses on the essential retail verticals of convenience, auto repair, home improvement, and clothing & home goods. The portfolio is designed to provide capital preservation and monthly, predictable cash flow during the anticipated 10-year holding period.

Additional details were not disclosed.

“This portfolio reinforces our real estate acquisition philosophy of buying strong brands in top MSAs and offering geographic, industry, and lease term diversification. The portfolio has a weighted average lease term or WALT of 11.29 years,” said Mike Packman, KNPRE’s founder & CEO. “Given the current and anticipated market environment, we are focused on continuing to deliver value to our investors by identifying real estate opportunities that provide capital preservation and predictable cash flow.”

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