FAQ on SRS Real Estate Partners' $4.8 Million Ground Lease Sale in Daytona Beach

What was the transaction amount for the ground lease sale in Daytona Beach?

The transaction amount was $4.8 million for the ground lease sale of the single-tenant medical office property.

Who was the tenant of the sold property?

The tenant was Florida Health Care Plan, Inc., occupying a newly constructed medical office property.

What type of lease was involved in this sale?

The sale involved a brand-new 20-year absolute triple-net (NNN) lease, offering long-term stability and zero landlord responsibilities.

Who represented the seller and the buyer in this transaction?

SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble represented both the seller, a Florida-based developer, and the 1031 buyer, a private investor.

Why was this investment highly sought after?

The investment was sought after for its unique blend of credit, term, and purchase price well below the replacement cost of the improvements constructed by the tenant.

What is the significance of the property’s location?

The property is directly off the I-95, across from a Publix-anchored center, and close to Daytona International Speedway and Airport, making it a prime location.

How does this transaction reflect on the healthcare real estate sector?

This transaction underscores the resilience and high demand for healthcare real estate investments, especially those with strong credit tenants.

What is SRS Real Estate Partners’ recent deal volume?

This year, SRS Capital Markets has completed more than $1.2 billion in deal volume, comprising over 350 transactions nationwide.

Where can I find more information about SRS Real Estate Partners?

For more information, please visit srsre.com.