480.280.2282 davidbusse@bonsap.com

 

Bonsap LLC, including its affiliates NNNLeaseInvestors.com, and NNNLeaseDevelopers.com buy single tenant properties that have long-term NNN leases to tenants with investment grade credit.

This is accomplished in three ways:

  • Sale Leaseback – buy from and lease back to the current owner
  • Build-to-Suit – Buy a property that is being built for and leased to a specific user
  • Acquisitions – Buy the real estate portion of a corporate acquisition and lease it to the new owner

Basic Criteria

  • Single Tenant
  • Any kind of real estate
  • Any location in the United State
  • Minimum Deal Size – $10 M; Typical ranges from $20 M to well over $200 M
  • Minimum Lease Term – Fifteen years, but 20 to 25 is preferable for all parties
  • Tenant has Investment Grade Credit Rating from Standard & Poor’s, Fitch, Moody’s, etc.

General Benefits

  • Conserve or free up capital
  • Long term leases & options to renew
  • Leases can be off-balance sheet obligations
  • Positive impact on tenant’s credit rating

Sale Leaseback

  • Options to repurchase
  • For smaller transactions ($10 M to $20 M) less costly and much faster than bond financing

Build-to-Suit

  • 100% financing of costs
  • BTS, joint venture, or public-private partnership

Requirements

  • Approved site
  • Executed lease
  • Bondable construction contract

Acquisitions

  • Leverage increases potential ROI
  • May exceed 100% of appraised value

Credit Enhancement – We are occasionally able to consider opportunities that require third-party credit enhancement.