The Portfolio Sale Featured 12 Properties Across the U.S.
Los Angeles – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, represented the seller in the disposition of a 12-property Napa Auto Parts portfolio for $20,100,000. Senior Associate Brandon Perez and Managing Director Bill Pedersen managed the transaction.
The seller, a private LLC, benefited from a competitive buyer bidding environment that led to an above-list price closing. Matthews™ secured an established and proven buyer that had experience with the tenant and was able to close quickly in a shifting debt environment.
“The biggest benefit for our client was knowing which groups to bring the opportunity to that had the ability to acquire an investment of this size and have the highest probability of closing,” Perez said. “With the market shifting so rapidly, it was important for us not to waste time and give the seller the highest chances of achieving the pricing they were looking for.”
The buyer is a large publicly traded REIT based in the Midwest that acquires net lease properties nationwide. It is currently unknown what the buyer’s plans are for the properties.
“We priced the deal at an aggressive but fair price and cap rate, intriguing multiple parties,” Pedersen said. “Our experience helped us navigate the challenges of the current lending environment, and we were able to source the best buyer and close without financial contingencies.”
The portfolio locations are located in the following states, AL, IL, NC, FL (2), NY, CA, MS, VA, GA, TX, and WA.
For more information or to contact Brandon Perez and Bill Pedersen, please visit www.matthews.com.
About Matthews™
Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 500 agents and support staff in 15+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
PRESS CONTACT
Kaylee Stock
(701) 429-7462
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