Syndicated Equities Buys Alabama Retail Property for DST Offering
Syndicated Equities, a sponsor of securitized 1031 exchange offerings has purchased a single-tenant retail property in Huntsville, Alabama.
Syndicated Equities, a sponsor of securitized 1031 exchange offerings, has purchased a single-tenant retail property in Huntsville, Alabama for $5.2 million.
The single-story building totals approximately 14,300 square feet and is 100 percent triple net leased to Walgreen Co. (NASDAQ: WBA), a national drugstore retail chain.
Syndicated Equities said that it purchased the property outright and structured the acquisition to accommodate investors completing tax-deferred 1031 exchanges along with accredited cash investors. The investment was structured as a Delaware statutory trust, and financing was provided by Ameris Bank.
Since 1986, Syndicated Equities has experience in co-investment ownership, net lease brokerage services, global real estate opportunity funds, and more recently, qualified opportunity zones. To date, the firm has made more than 100 investments representing approximately $500 million of equity and $4 billion of total asset value.
