According to a CoStar report, Equity Capital Management (ECM) has signed definitive agreements to sell up to $625 million of single tenant office, industrial, and retail properties under long-term net lease agreements. The details of the agreements haven't been fully disclosed at this time; ECM did not name the properties under contract. ECM did indicate, however, that it expects the sales of these unnamed properties during the first half of 2011.
James G. Koman, co-founder and managing partner of ECM said: "The assets being sold are representative of the type of properties we are looking for moving forward. As has been the case historically, the majority of these assets were acquired through off-market transactions as a result of our deep relationships with developers, corporations, and other institutional investors."
"With investors paying premiums for stable in-place cash flows, this would seem to be an ideal time to recycle single-tenant assets with long-term leases in place," said Chris Macke, senior real estate strategist for CoStar Group.
For more news and information visit Blumberg Capital Partners.
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