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- National Retail Properties Services, Inc. (NNN) will fund 100% of the equity on a non-recourse basis necessary to obtain construction financing.
- NNN Funding fee:
- 2% placement fee (of total equity placement)
- 9.5% preferred return on total equity placement
- Preferred return is simple based on 12 months
- Exit strategy is a market sale.
- Profit split is negotiated and depends upon responsibilities,
risk and
contribution; typically 40/60.
- NNN and Developer will form an LLC for purposes of holding
title and
developing the project.
Product Types:
Drug stores, convenience stores and freestanding triple-net build-to-suits.
Equity Amounts:
$5 Million or less.
The Company
National Retail Properties, Inc. (NYSE: NNN), an equity real estate investment trust, invests in high-quality, freestanding, single-tenant properties subject to long-term, net leases.
The company currently has more than $1 billion in assets and owns, either directly or through investment interests, 350 properties in 39 states with total gross leasable area of approximately 6.7 million square feet. These properties are leased
to 111 tenants in 39 lines of trade.
The company maintains an investment-grade debt rating with the three major rating agencies, Standard & Poor’s, Moody’s and Fitch IBCA, as well as credit facilities of $250 million, which provide immediate access to capital for acquisitions.
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