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Boulder Group Closes Deal for First Midwest Bank Portfolio
The Boulder Group completed the sale of nine single-tenant First Midwest Bank properties located throughout Illinois for approximately $46,600,000. Buyer and seller weren’t disclosed.
The nine First Midwest Bank locations feature leases with approximately 10 years remaining in the primary term. They also host a list of renewal options with rental escalations. Each property is positioned within a retail corridor.
“Portfolios of high quality single-tenant investment grade properties are in high demand, but not in abundant supply,” said Jimmy Goodman, partner of The Boulder Group.
Randy Blankstein, president of The Boulder Group, added, “Net lease investors are seeking banks with strong deposit histories along with long term lease agreements.”
- ◦Sale/Acquisition
