Syndicated Equities Buys 100% Net Leased Property in Oklahoma City for DST Offering
Syndicated Equities, a sponsor of securitized 1031 exchange offerings, announced the acquisition of the Heartland Payment Systems Corporate Headquarters in Oklahoma City, Oklahoma.
Syndicated Equities, a sponsor of securitized 1031 exchange offerings, announced the acquisition of the Heartland Payment Systems Corporate Headquarters in Oklahoma City, Oklahoma for $46.97 Million.
The property is 100% net leased to Heartland Payment Systems, a financial technology company focused on efficient and secure payment processing and payroll services. The 112,000-square-foot property was built-to-suit to serve as the corporate headquarters for Heartland in 2020.
The property is located in Oklahoma City’s “Automobile Alley,” a popular destination for shopping, dining, art and nightlife.
“Now, more than ever, we believe that consistent cash flow from an investment-grade tenant on a long-term lease is an excellent position to take amidst current market volatility,” said Matt McCulloch, managing partner.
Syndicated acquired the property and structured its acquisition in a Delaware statutory trust to accommodate investors completing 1031 tax deferred exchanges, along with accredited cash investors.
The acquisition was partially funded with a loan from Old Second National Bank and Gateway First Bank.
Syndicated Equities provides accredited investors and family offices with commercial real estate investments. Since 1986, the firm has focused on co-investment ownership, net lease brokerage services, global real estate opportunity funds, and more recently, qualified opportunity zones. To date, Syndicated Equities has made more than 100 investments representing over $600 million of equity and $4 billion of total asset value.
