On June 3, 2021, a joint venture between Limestone Asset Management and Orion Real Estate Group closed on a 27-location Walgreens portfolio for $133 million. The portfolio encompasses 27 locations throughout the country.
"We are extremely pleased to acquire this large Walgreens portfolio, featuring excellent sites with long-term value and a high-quality credit tenant," said Ibrahim Al-Rashid, chairman of Limestone Asset Management, in a prepared statement. "This purchase reflects Limestone's dedication to expanding its portfolio over all asset classes."
Wells Fargo is providing financing for the portfolio transaction. Kevin Sanz, president of Orion Real Estate Group, led the buyer group. Brian Pfohl, executive vice president of CBRE and Maury Vanden Eykel, senior vice president of CBRE, represented the seller.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
