IGF Investment Grade Fund I Buys Two Properties for Nearly $7 Million
IGF Investment Grade Fund I LP, a private real estate investment fund sponsored by IGF Partners Realty, purchased two retail properties in Oklahoma and California for a combined $7 million.
The fund purchased a 4,600-square-foot property in the Oklahoma City suburb of Yukon for $2.8 million. The property is leased to Verizon Wireless on a 10-year lease term with multiple options to renew.
The fund also purchased Dollar General Market in California City, California for approximately $4.1 million. The 3-year-old property totals nearly 21,000 square feet and is leased through August 2028 with three, 5-year options to renew.
Both newly acquired assets, plus three currently owned assets, were part of a five-property long-term fixed rate financing totaling $10.1 million that was provided by Cantor Fitzgerald (CCRE).
“These acquisitions and CCRE permanent financing are reflective of the quality and strength of both the tenants and locations that IGF Investment Grade Fund I strive to achieve for our investors,” said Gene McKnight, manager of real estate and acquisitions.
IGF Investment Grade Fund I is a single tenant, net leased real estate investment fund.
