Board Topic: nnn lease -looking to purchase another property
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nnn lease

Posted by: marshall Sep 17 2004, 09:05 AM
I am looking at rolling my 1031 in to a Triple Net lease. Who are the leaders in the lending on these things and what is the tipical down payment for these. Also does anyone know of the leading triple net lease providers in the market?
Thanks,
Triple net guy ohmy.gif

Posted by: loanuniverse Sep 17 2004, 09:45 AM
Marshall:

Just so that we are clear, what you are trying to say is that you are looking to purchase another property, and you would like it to have a tenant that is renting under a triple-net lease or “NNN lease”. I might be wrong, but it is my understanding in order to not have to recognize a gain or loss under section 1031 you would have to buy another property within a certain period of time. This to me means that you are not looking to take over a lease, but that you want to get a replacement property, but that you prefer one with a triple-net in place.

There is no specialty lenders in this area. In fact, most commercial buildings will have some form or another of a “NNN lease”. The typical down payment is around 25%, and I am sure that most commercial lenders will be glad to help you out.

Good luck

Posted by: marshall Sep 17 2004, 10:32 AM
QUOTE (loanuniverse @ Sep 17 2004, 09:45 AM)
Marshall:

Just so that we are clear, what you are trying to say is that you are looking to purchase another property, and you would like it to have a tenant that is renting under a triple-net lease or “NNN lease”. I might be wrong, but it is my understanding in order to not have to recognize a gain or loss under section 1031 you would have to buy another property within a certain period of time. This to me means that you are not looking to take over a lease, but that you want to get a replacement property, but that you prefer one with a triple-net in place.

There is no specialty lenders in this area. In fact, most commercial buildings will have some form or another of a “NNN lease”. The typical down payment is around 25%, and I am sure that most commercial lenders will be glad to help you out.

Good luck

You are correct, my message was unclear. I am looking for a company who specializes in the sale of properties with a triple net lease on it.. do you have a midwest company in mind. Primary is minnesota and wisconsin.
Thanks,
Marshall

Posted by: loanuniverse Sep 17 2004, 11:03 AM
Marshall:

Sorry, but those states are a couple of thousand miles away from my location. In addition, I like to stay away from recommending specific companies. But, I can tell you what I would do in your position.

In every market there are a couple of real estate brokers that specialize in commercial properties. I know that in my area the EWM brokers usually have a wide selection of commercial properties listed in their web site {usually hundreds}. There is also loopnet.com that allows you to do searches on a nation wide basis. Taking into consideration that you can get a broker to do the search, I would contact a couple and let them do the work for you. After all, the buyer does not have to sign an exclusive agreement or anything.

Good luck
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