BALTIMORE, Jan. 04, 2022 (GLOBE NEWSWIRE) — Sentinel Net Lease (“Sentinel”) closed out 2021 by acquiring three commercial real estate properties totaling $58MM in December. These most recent acquisitions include the Hilton Grand Vacations operations center in Orlando, FL for $24.5MM; One Renner Ridge, a class A office building in the Kansas City metro area for $22.6MM; and 1200 E. Anderson, a value-add office building in Austin, TX for $10.6MM. In total, Sentinel has acquired over $200MM in assets since the beginning of the pandemic in March of 2020.
Sentinel Net Lease was founded by investment veterans Fred Lewis and Dennis Cisterna with a primary strategy to invest in real estate occupied by tech-centric and essential services companies that can thrive in normal market conditions and operate successfully in recessionary environments.
The acquisition of the Hilton Grand Vacations operations center is the sixth call center acquired by Sentinel, which also owns properties occupied by Amazon, AT&T, and Tesla. “We found that while there is still a lot of uncertainty around what a return-to-work look likes for the average office employee, those in customer service positions have returned to the office environment much more rapidly, supporting the immediate utility of the operation and service centers we acquire” said Cisterna, Sentinel’s Chief Investment Officer, highlighting the benefits of the acquisition.
One Renner Ridge is Sentinel’s first property located in the Kansas City metro area. Lewis, Sentinel’s CEO, commented “We are big believers in select markets throughout the Midwest region. Kansas City is an undervalued market with an exceptional narrative around the area’s high quality of life and business-friendly environment. We were able to purchase a Class A building with two strong tenants in a great location at an attractive yield. This asset is very consistent with our primary strategy of producing solid risk-adjusted yields for our investors.”
1200 E. Anderson is Sentinel’s first value-add property added to the portfolio. The current tenant of the approximately 87,000 square-foot building vacates in the fourth quarter of 2022 and the firm is planning a significant renovation for the building to attract a top-tier tenant that is looking for a high-quality building proximate to downtown Austin. Cisterna commented, “1200 E. Anderson is a bold step for the future of Sentinel as we expand the firm’s capabilities to include development and construction. This property’s attractive acquisition price, coupled with its stellar location in the City of Austin, should make this an exceptional investment.”
Sentinel’s syndicated deal structure allows for targeted capital raising for each identified deal, without the ongoing pressure to put capital to work. Lewis noted “It’s not easy to find assets that check off all the boxes, but we believe a measured approach in sourcing the right opportunities while conducting extensive due diligence and market analysis on each property allows us to build on our reputation as an intelligent investor. For accredited investors looking to diversify their portfolio with alternative investments in real estate, we offer a consistent investment vehicle with strong asset management that is easy to understand.”
About Sentinel Net Lease
Sentinel Net Lease is a real estate investment firm founded in 2019 that is focused on acquiring commercial real estate investments that either produce monthly cash-flow or possess significant profit potential through renovation and leasing. These assets are expected to be resistant to certain market disruptions while offering potential out-sized returns for investors. Management targets opportunistic situations that may not be a fit for traditional REITs due to size or transaction complexity, utilizing its extensive experience to understand each property’s narrative to create real value for investors.
Their approach combines institutional-quality, data-driven investment analysis with exceptional boots-on-the-ground operational experience and meticulous asset management to deliver strong, risk-adjusted yields.
Visit sentinelnetlease.com for more information.
Sentinel Net Lease
Andrew Broeren – Chief Operating Officer
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