BOCA RATON, Fla., April 14, 2016 /PRNewswire/ -- QuickLiquidity today announced it has acquired a partnership interest position on the secondary market in a real estate portfolio with an estimated value of over $30MM. The portfolio consists of 5 triple net lease CVS's and 3 Hy-Vee's, totaling over 220,000-square-feet of single tenant properties with long-term leases and self-amortizing loans.
A. Yoni Miller, Principal of QuickLiquidity, said: "We are continuously increasing our holdings of minority interest positions in investment grade single tenant properties acquired on the secondary market. This latest acquisition is a strong confirmation of the type of investments we make on a regular basis as a passive investor. Our current portfolio consists of national credit tenants such as Walgreens, PNC Bank, Starbucks, Lowe's, and others."
The portfolio's average 5-mile radius population of the CVS's are 158,457. CVS Caremark Corporation (commonly called CVS) is the second largest pharmacy chain in the United States, with over 7,000 stores. CVS is an investment grade tenant with an S&P rating of BBB+.
The portfolio's average 5-mile radius population of the Hy-Vee's are 29,521. Hy-Vee, Inc. is a leading Midwest grocery, with over 240 locations and more than $9.3B in annual revenues in 2015.
The founders of QuickLiquidity purchased their first partnership interest position on the secondary market in 2009 and continue to provide a reliable exit strategy to limited partners looking to sell their illiquid real estate partnership interest in exchange for immediate liquidity.
QuickLiquidity is a direct buyer of partnership interest in commercial real estate and online real estate crowdfunding on the secondary market. QuickLiquidity offers an exit strategy to commercial real estate investors looking to break free from their non-controlling and illiquid assets. QuickLiquidity acquires positions in stabilized and cash flowing partnerships on a nationwide basis in Limited Liability Companies (LLC's), Limited Partnerships (LP's), Limited Liability Partnerships (LLP's), Tenants-In-Common (TIC's), and Delaware Statutory Trust (DST's). To learn more about QuickLiquidity please visit http://www.quickliquidity.com/.
A. Yoni Miller
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