Pontus Completes Bank Branch Acquisition

In April 2016, Pontus completed the acquisition of a portfolio of 61 bank branches leased to a diverse group of primarily investment grade tenants for approximately $140 million.  After a number of false starts with other parties, the seller, a large institutional REIT, selected Pontus based upon its ability and certainty to close on a complicated and structured transaction that involved defeasance of four separate CMBS loans and some shorter term and unoccupied leased properties.  The properties are located across eight states including Florida, California, North Carolina, Georgia, South Carolina, New Jersey, Virginia and Arkansas.

Michael Press, Managing Partner at Pontus commented: “We are very pleased to close on this diverse portfolio of quality assets leased primarily to investment grade financial institutions.  The seller required a portfolio sale and closing certainty.  We are delighted to successfully meet both seller requirements, particularly in light of the extreme volatility in capital markets at the time of our closing.”

Pontus Capital opportunistically invests in and manages real estate secured investments on behalf of its private and institutional investors including in its growing net lease property strategy.  As principals, the Pontus management team has acquired over $4 billion of net leased assets nationwide.