Modiv completes three commercial real estate transactions

0
30

[ad_1]

Newport Beach, CA Aug 3, 2021 (GLOBE NEWSWIRE) – The deals include acquisitions, property sales and lease extensions, which are indicative of Modiv’s good portfolio performance in the Texas real estate market.

Modiv Inc., an innovative asset management company in the real estate, fintech and technology industries, today announced the completion of three separate commercial real estate transactions in central Texas. The deals include the purchase and renewal of leases in San Antonio and the sale of properties in the Greater Austin area, for a total of 99,265 square feet.

Details of operations in Texas include:

  • Acquisition of a 3,800 square foot fast food restaurant rented by Raising Cane’s® at 19110 Stone Oak Parkway in San Antonio. Founded in 1996 Raising the cane is a popular and growing fast food restaurant brand specializing in chicken sticks with over 550 restaurants in 30 states and the Middle East. The property is located on a main street close to schools, medical facilities and new buildings.
  • An eight-year lease extension for the Pre-K 4 SA Education Center located at 1255 Old Highway 90 W in San Antonio. The 50,000 square foot facility is leased to the San Antonio Early Childhood Development Corporation (“Early Childhood”) and is guaranteed by the City of San Antonio. This Pre-K Center is one of four in the San Antonio Market and has over 400 students. Modive worked closely with the Early Childhood Board of Directors on the deal, which allowed the center to continue its mission of providing high quality, effective early childhood education opportunities to the San Antonio community.
  • The sale of a 45,465 square foot industrial property located at 5900 183A Frontage Road in Cedar Park has been completed with Aerospace Technology Corporation. Pricing predates the most recent independent appraisal demonstrating the strength of Austin’s larger commercial property market.

“These transactions reflect our team’s ability to add value and proactively manage our diverse portfolio of properties,” said David Collins, Chief Real Estate Officer for Modiv, based in Dallas. “We remain optimistic about the continued growth of the Texas commercial real estate market and believe that our investment in this region can provide long-term value to our investors.”

In Texas, Modive also owns Dallas office property leased by Texas Health Resources and Big Spring retail property leased by Dollar General.

Forward-looking statements
Certain statements contained in this document, in addition to historical fact, may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”) and Section 21E of the Stock Exchange Act of 1934. as amended (“Law on the Exchanges”). Modiv intends that all such forward-looking statements are subject to the safe haven provisions for forward-looking statements contained in Section 27A of the Securities Act, Section 21E of the Exchange Act and other applicable laws. Such statements include, inter alia, statements about Modiv’s ability to add value and actively manage its portfolio, the strength of the Texas real estate market, and its ability to deliver long-term value. Consequently, such statements are not guarantees of future results and are subject to risks, uncertainties and other factors, some of which are beyond Modiv’s control, are difficult to predict and could cause actual results to differ materially from those expressed or implied in the forecast. … looking at statements. Accordingly, Modiv makes no representations or warranties, express or implied, regarding the accuracy of any such forward-looking statements contained below. Except as otherwise required by federal securities laws, Modiv assumes no obligation to update or revise any forward-looking statements to reflect changed assumptions, unforeseen events or changes in future operating results, whether as a result of new information, future events or otherwise.

About Modiv
Modiv Inc., a real estate, fintech and proptech asset manager, is redefining modern real estate investment for individual investors. Through innovation, investor focus and an experienced management team, Modiv has created one of the largest crowdfunding OTC real estate investment funds and the first fully investor-owned real estate crowdfunding platform. Modiv provides individual investors with access to real estate and related investments designed for both income generation and long-term growth. Visit modiv.com to find out more.

Contact
Deputy Vice President
Hudson Pitts
RUBENSTEIN
hpitts@rubenstein.com
248-767-1688

[ad_2]

Source link