Led Triple

Posted in cigar & cigarette stuff by admin @ May 27, 2008

Led Triple Led Triple

Reston, VA, —Calkain Companies’, a national real estate investment brokerage firm, has procured the sale of two triple net (NNN) lease investment properties in Fulton, MD. The SunTrust Bank and M&T Bank Ground Leases in Maple Lawn (Fulton), MD were sold to private investors seeking passive and long-term investments. Closing price of the sale was $8.2MM.

Rick Fernandez, Assistant Vice President and Jeff Bogart, Tax Strategy Specialist, both of Calkain Realty Advisors, the private market division of Calkain Companies, led the marketing and sale of the transactions. Fernandez commented, “The strong market demographics, high profile locations and financial strength of the tenants provided sound and stable investment opportunities for the investors.” The properties commanded a premium price due to the high credit worthiness of the tenants and the above average rent increases during the terms of the lease. Fernandez and Bogart generated multiple offers for the asset and ultimately completed the sale in an obviously challenging market. Jonathan Hipp, President & CEO of Calkain Companies continued, “Calkain proved that quality real estate is highly desirable, no matter what market cycle is occurring.” Bogart commented,” The availability of favorable financing for this transaction and in this market cycle is testament to the strength and stability of the Washington, DC metro market.”

Maple Lawn is an upscale mixed use development outside of the Nation’s Capitol that provides living, working and shopping conveniences. With over 1,340 homes planned for the development, the long term benefits of the investments are greatly achieved.

The transaction is recorded in the public record.

Calkain Companies is a privately held, national real estate brokerage and advisory firm that specializes in single and multi-tenant retail, industrial, and office net leased transactions. Calkain has offices in Reston, VA (Washington, DC), Tampa, FL, and McHenry, MD.

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www.calkain.com.

Article Source: ArticlesBase.com - The SunTrust Bank and M&T Bank Two Triple (NNN) in Maple Lawn (Fulton), MD Were Sold

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