NEW YORK CITY—A high volume of deals, and continued interest in a variety of sectors, have left the net lease space in good stead—market conditions that are likely to continue throughout this year, according to industry experts who spoke last week at RealShare Net Lease here.
“Our first quarter was great,” declared Gino Sabatini, managing director, W. P. Carey. “Including the beginning of the second quarter, we closed $600 million, including a deal with a private school operator in a 25-year sale leaseback deal with a 7.2% cap rate.”
Added Jack Genende, CFO/partner, U.S. Realty Advisors, “In late 2015/early 2016, we acquired over $500 million in mission critical, single-tenant net lease transactions because those firms were signing longer term, 15-25 year agreements; whereas we previously were seeing 13.5 to 20 years. That's encouraging.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
