Rodin Global Property Trust Inc., a publicly registered non-traded REIT sponsored by Cantor Fitzgerald Investors, has purchased a 241,500-square-foot office building located in Columbus, Ohio for nearly $47 million. An affiliate of Cantor Fitzgerald Investors owns a 33 percent interest in the property.
The property is 100 percent leased to Comenity Servicing LLC, a subsidiary of Alliance Data Systems Corporation, which serves as the guarantor of the lease. The lease expires in September 2032 and has one 10-year renewal option.
Rodin Global Property Trust said that it intends, but is not obligated, to purchase 100 percent of the membership interests from Cantor Fitzgerald Investors.
Rodin Global Property Trust invests primarily in single-tenant net leased commercial properties located in the United States and Europe. The company raised approximately $32.1 million in investor equity, as of the first quarter 2018, and owned two retail property purchased for $35.2 million, according to Summit Investment Research.