One Family Property Announces Acquisition Of Investment Property

Rhea-AI Summary

OFP Real Estate, LLC has acquired a net-leased investment property tenanted by Walgreens Boots Alliance (WBA) in the Cleveland, Ohio metro area. This acquisition, which marks OFP's first for 2021, was secured with a long-term lease, ensuring stable and predictable returns. The purchase increases OFP's net-lease investments to over $45,000,000 across five states, with aims to exceed a $150,000,000 acquisition target by year-end. The firm focuses on income-producing investments from leading retail tenants.

Positive

• Acquisition of property increases net-lease investments to over $45,000,000.
• Long-term lease provides stable and predictable income.
• Expectations to exceed acquisition target of $150,000,000 by end of 2021.

Negative

• None.

BLOOMFIELD HILLS, Mich., Jan. 14, 2021 /PRNewswire/ -- OFP Real Estate, LLC (a/k/a One Family Property) ("OFP") announced today that it closed on the acquisition of a net-leased investment tenanted by Walgreens Boots Alliance (NASDAQ: WBA) located in a Cleveland, Ohio metro market. The investment was acquired with a long-term lease in place, providing stable, strong, and predictable returns. This transaction marked the companies first 2021 acquisition.  

One Family Property is committed to increasing investor value with long-term, stable, income-producing investments. This acquisition will increase OFP's investment in the net-lease market to more than $45,000,000 throughout five different states.

"We are pleased to announce this acquisition," said Aaron Baum, Managing Principal. "We remain focused on our investment goals set forth in the prior year and expect to exceed our $150,000,000 acquisition target by the end of 2021."

About One Family Property:

One Family Property is a real estate investment firm based in Bloomfield Hills, Michigan. The company is primarily engaged in the acquisition of properties net-leased to industry-leading, retail tenants. Last year, the company acquired more than $40,000,000 of net-leased investments. The company looks to acquire more than $250,000,000 over the next 12 – 24 months.

View original content:http://www.prnewswire.com/news-releases/one-family-property-announces-acquisition-of-investment-property-301208856.html

SOURCE One Family Property

FAQ

What acquisition did Walgreens Boots Alliance (WBA) make on January 14, 2021?

OFP Real Estate acquired a net-leased investment property tenanted by Walgreens Boots Alliance in Cleveland, Ohio.

How much has One Family Property invested in the net-lease market?

One Family Property has invested over $45,000,000 in the net-lease market across five states.

What are One Family Property's acquisition targets for 2021?

One Family Property aims to exceed $150,000,000 in acquisitions by the end of 2021.

What is the significance of the long-term lease in the WBA property acquisition?

The long-term lease provides stable, strong, and predictable returns for the investment.