2008 CPN Goldbook - (Page 36) NET LEASE PLAYERS Boulder Net Lease Funds L.L.C. Boulder Net Lease Funds L.L.C. acquires single-tenant office and industrial properties nationally on an all-cash basis. The company focuses primarily on short-term leases and other higheryield opportunities in the net lease sector. It made significant 2007 acquisitions in Nebraska, Texas, Kansas and Indiana and has $150 million worth of equity to place in 2008. ties in the United States and Canada. The company’s 850 properties total 100 million square feet in 14 countries and are valued at more than $9.5 billion. Corporate Partners Capital Group Inc. Corporate Partners Capital Group Inc.’s $300 million private fund owns and operates single-tenant, net-leased corporate real estate. The fund has acquired 188 properties, secured by long-term net leases to corporate tenants, for $680 million. Transactions have included 21 Burger King restaurants for Goldco Inc., 87 Taco Bell/KFC restaurants for K-MAC Enterprises Inc. and individual properties like a regional distribution center in Orlando for Circuit City. RANDY BLANKSTEIN President Boulder Net Lease Funds L.L.C. Calkain Cos. Calkain Cos. provides net lease brokerage and consulting services through its three divisions: Calkain Realty Advisors, which offers transactional services for the sale and acquisition of singleand multi-tenant assets; Calkain Institutional Advisors, which offers specialized and adaptive services for complex and institutional-grade property; and JONATHAN HIPP President & CEO Calkain Site Services, which provides Calkain Cos. analysis of owned or prospective real property assets. Calkain expanded into the Southeast during 2007 by opening a Tampa office. It also has offices in Reston, Va.; Nashua, N.H.; and McHenry, Md. HOWARD SANDS Managing Director & Founding Principal Corporate Partners Capital Group Inc. CRIC Capital L.L.C. CRIC Capital L.L.C., in partnership with Prudential Real Estate Investors, acquires and net leases individual assets and portfolios to investmentgrade and non-investment-grade companies, including both corporate and franchisee credits. In 2007, CRIC Capital structured and closed net lease transactions with such companies as LEO SCHWARTZ Ashley Furniture Industries Inc., EZ Executive Director-Acquisitions CRIC Capital L.L.C. Energy USA Inc., Famous Dave’s of America Inc. and Logan’s Roadhouse Inc. CRIC Capital’s total annual transaction volume exceeds $375 million. CapLease Inc. CapLease Inc. has originated $4.5 billion worth of net lease transactions since 1996. The REIT’s 10 million-square-foot portfolio includes 62 properties leased to 33 tenants in 26 states and boasts a 99 percent occupancy rate. The company invests primarily in single-tenant commercial real estate assets subject to long-term leases to high-credit-quality tenants. The company’s $2.2 billion portfolio PAUL McDOWELL contains $1.7 billion worth of property Chairman & CEO CapLease Inc. and $500 million in mortgages and securities. In December 2007, the company announced the retirement of longtime chairman Lewis Ranieri. Stan Johnson Co. Commercial real estate brokerage firm Stan Johnson Co. completes more than $1 billion worth of transactions annually. The company’s net lease group focuses exclusively on the sale of net lease assets and specializes in retail, office, industrial and medical properties. The capital markets group provides customized debt-placement solutions, with a special focus on the single-tenant net lease market, offering financing structures that include mezzanine, fixed-rate and permanent loans; credit-tenant lease transactions; and construction loans. The company is headquartered in Tulsa. W. P. Carey & Co. W. P. Carey & Co. provides long-term net lease financing worldwide. In 2007, it completed more than $1 billion worth of transactions on behalf of its Corporate Property Associates funds. International deals included $445 million in financing for German do-ityourself retailer Hellweg Die ProfiBaumarkte GmbH, the largest financing in W. P. Carey’s more-than-30-year history. A $63 million sale-leaseback transaction with International AluBENJAMIN HARRIS minum Corp., a portfolio company of Managing Director & Head-U.S. Investments private equity firm Genstar Capital W. P. Carey & Co. L.L.C., included nine industrial facili- National Retail Properties Inc. National Retail Properties Inc. invests in freestanding retail stores under long-term net leases with established tenants. The company leases its 876 properties, with a gross leasable area of more than 10 million square feet, to 194 different tenants in 43 states. Its assets are worth more than $2.3 billion. In September 2007, the REIT created a joint venture with an affiliate of Crow Holdings Realty PartCRAIG MACNAB ners IV L.P. to acquire assets leased to CEO National Retail Properties Inc. convenience store operators. 36 Commercial Property News 2008 Goldbook
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