Keystone 1031 Buys Eight Net-Leased Retail Properties for DST Offering

Keystone 1031, a sponsor of Delaware statutory trust offerings, has purchased a portfolio of eight net-leased retail properties.

Keystone 1031, a sponsor of Delaware statutory trust offerings, has purchased a portfolio of eight net-leased retail properties on behalf of their current DST offering, Keystone 1031 Net Leased Portfolio II, for nearly $35.7 million.

The single-tenant properties total more than 62,000 square feet and are leased to national brands in major metropolitan statistical areas. The portfolio, which has an anticipated 10-year holding period, is diversified across seven states and focuses on the essential retail niches of auto repair, convenience, home improvement, and clothing and home goods.

The properties include a 7-Eleven located in Las Vegas, a Family Dollar in Fort Worth, a Goodwill in St. Paul, a Walgreens in Denver, an O’Reilly Auto Parts in Chicago, a Jiffy Lube in San Antonio, a Sherwin Williams in Milwaukee, and a Starbucks in Bloomington, Indiana. The portfolio has a weighted average lease term of roughly 11.3 years.

“This portfolio reinforces our real estate acquisition philosophy of buying strong brands in top MSAs and offering geographic, industry, and lease term diversification…,” said Mike Packman, founder and chief executive officer. “Given the current and anticipated market environment, we are focused on continuing to deliver value to our investors by identifying real estate opportunities that provide capital preservation and predictable cash flow.”

Keystone 1031 is a member of the Keystone National Property family of companies. Established in 2016, KNPRE provides impact and tax-advantaged investment opportunities for accredited investors.

For more KNPRE/Keystone 1031 news, please visit their directory page.