Property Summary

ESSENTIAL INFORMATION

  • 100% Occupied by CardWorks
  • “NN+” Lease.
  • Lease Expiration: October 1, 2029
  • Two 5-year extension options with 2.5% annual rent increases
  • Status CLOSED
  • Area 59,927 Square Footage
  • Location Orlando, FL
  • Type Credit Card Processing Center
  • Strategy Core Credit-Rated

Description

Sentinel Net Lease, LLC (“Sentinel”) acquired a 59,927 SF office building in Orlando, Florida, that is 100% occupied by CardWorks Servicing under a long-term lease. CardWorks is a leading servicer of nationally branded MasterCard/Visa cards, private label cards, secured cards, and other unique products, as well as secured and unsecured installment loans. Sentinel acquired this office net leased investment due to its strong tenants and positioning as a pandemic proof real estate investment.

Key Metrics

  • Purchase Price: $14,250,000
  • Net Rentable SF: 59,927
  • 7.3% Capitalization Rate based on Year-1 NOI
  • Projected 2.6x Equity Multiple
  • Target 14% net IRR to investors

Location

Address

9200 Southpark Center Loop, Orlando, FL 32819