In its net lease business, Brennan generally acquires stabilized assets. However, we always remain open to more opportunistic, value-add investments.
In 2018, Brennan acquired the SIP portfolio from a distressed seller in a negotiated transaction involving their lender/special servicer. The portfolio included 11 properties encompassing 2.498 million square feet across eight states. The portfolio was a “broken” net lease portfolio with significant vacancy and near-term rollover. Brennan developed an asset-by-asset value creation strategy to stabilize the portfolio and maximize total returns to investors.
Over the subsequent four years, Brennan successfully executed its business plan and exited the portfolio through 11 separate transactions with returns exceeding pro forma.
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