TORONTO--(BUSINESS WIRE)--Axia Real Assets announced today that the platform has closed the acquisition of three single tenant essential net lease properties for $25.5 million.
“Highlights of the portfolio acquisition include approximately 10 years of lease term that is backed by investment grade credit tenant, Shoppers Drug Mart,” said Darrell Shipp, Partner at Axia Real Assets. “The portfolio generates an outsized yield with long-term, visible cash flow. In addition, contractual increases in rent protect against inflation as does owning a high-quality portfolio of real estate on top of 5.6 acres of land in prime last mile locations.”
“The properties are strategically positioned, proximate to the end consumer and are critical in supplying essential services on a daily basis,” said Kai Lam, Co-founder and Managing Partner at Blueprint Forest. “We remain focused on growing the essential net lease platform beyond this first acquisition.”
“We are tremendously excited about the long-term partnership with Blueprint Forest,” said Greg Stevenson, Partner at Axia Real Assets. “We share values that align our decision making to maximize long-term results and are grateful to be partnering with the best-in-class global investment team at Blueprint Forest.”
About Axia Real Assets
Axia Real Assets is a joint venture partnership with CI Financial Corp. (TSX: CIX; NYSE: CIXX). Axia is an independently operated asset manager focused on investing and operating real estate and infrastructure assets. Axia serves investors around the world to provide a range of investment solutions that preserve and grow client capital throughout market cycles.
About Blueprint Forest
Blueprint Forest is an independently managed multi-family office serving the principals of the firm and industry-leading business families that average over 100 years of operating history.