In November 2016, Pontus Capital completed the acquisition of 10 retail properties leased to Rite Aid Corporation. The portfolio transaction was comprised of stores in New York and Tennessee. Pontus was selected by the seller based upon superior terms, longstanding tenant relationship and certainty of close. Jen Holm, Principal, commented, “We are pleased to quickly close this transaction and fully satisfy all of the seller’s closing requirements. This acquisition furthers Pontus’ long term objective to acquire stable, cash flowing triple net lease properties leased to strong and growing national tenants.” The portfolio is 100% leased under a long term, triple net lease agreements.
Pontus Capital invests in and manages real estate secured investments on behalf of its private and institutional capital partners and is pleased to add this portfolio of net leased properties to its growing portfolio.