California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
SRS NNLG Brokers $60M Total Sale of 14 KinderCare Centers
Newport Beach, CA-based SRS Real Estate Partners National Net Lease Group (NNLG) has completed 14 sales of newly-developed KinderCare Learning Centers throughout several U.S. states. The transactions of the single-tenant properties totaled in excess of $60 million.
SRS NNLG’s Chad Lieber represented the sellers in the deals who were all developers. The buyers were private investors, with the majority in 1031 exchanges, and about half paying all cash.
“Many investors are surprised when they learn they can purchase a KinderCare Learning Center which offers full corporate lease guarantees on its 1,500 locations, long-term leases up to 15 years and triple net lease structures on most of their schools,” commented Lieber. “Total revenue from day care centers is anticipated to grow 2.4% annually the next five years, and as this trend ensues, investors and lenders will continues to add more of the asset class into their portfolio.”
- ◦Sale/Acquisition
