McKinley Companies Continues to Expand its Triple Net Portfolio with newest Acquisition in GeorgiaMarch 28, 2019
TIFTON, GA.- The McKinley Companies announced today the acquisition of a Triple Net investment in Tifton, Georgia. This 41,117 SF property is occupied with a long-term lease by a Walmart Neighborhood Market and is in close proximity to Abraham Baldwin Agriculture College, just off of the major I-75 Highway. The acquisition is part of McKinley's strategic direction to exit the office and retail asset classes and become primarily a Multifamily enterprise with select stable NNN properties.
"We carefully handpicked these assets to ensure the long-term stability of our portfolio and partnered with CIBC to create a fixed-rate model to support stable cash flow for a decade," offered Jim Willett Senior Vice President & Managing Director - Finance. "This property will join our other 17 NNN Assets located in Michigan, Florida, Georgia and South Carolina. We're proud of our close relationship and partnership with CIBC that allows us to structure the financing needed to ensure this portfolio can weather any storm and remain a quality investment for years to come." further offered Willett.
This acquisition is financed long-term with CIBC. The loan with CIBC offers fixed-rate financing in a rising-interest rate market, along with the optionality and flexibility needed to manage McKinley's owned Triple Net portfolio in the future.