Thomas Company is pleased to announce the recent sale of 99-year ground lease under a Class-A Office building in Louisville, Kentucky. The Property was structured as a Zero Cash Flow investment allowing the purchaser to utilize the Paydown Readvance feature to cash out their excess equity in their 1031 exchange. The property closed as an off-market transaction.
Highlights
- CLASS-A OFFICE : The 137,486 SF building was developed in 2019 in one of the most affluent areas of Louisville, with a diverse high-credit tenant roster including T-Mobile, GSA, Weiland, and RW Baird.
- ZERO-CASH-FLOW: Long-term, easily assumable, fixed-rate CTL financing.
- LONG-TERM PASSIVE OWNERSHIP: The Leasehold Tenant executed a 99-year absolute NNN with no Landlord responsibilities whatsoever and attractive annual rent escalations.