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One of Largest Childcare Portfolios Sold Intact

The portfolio was purchased by an institutional investor for $57 million and was encumbered by CMBS debt, but selling it intact circumvented defeasance penalties that would have been triggered by carving up.

Gateway Academy Portfolio Gateway Academy in Colorado was one of the properties in the 21-asset portfolio.

SAN FRANCISCO—Due to lack of sizable quality childcare portfolios available to the public when compared to quick-service restaurants and other types of triple-net tenants, a portfolio recently generated abundant interest and was sold intact. One disposition bucked that trend.

San Francisco-based Stan Johnson Company completed the sale of a Gateway Academy portfolio. The portfolio consisted of 21 single-tenant net lease childcare assets being operated by one of the largest for-profit childcare organizations in North America. The properties were located in Colorado, North Carolina and South Carolina.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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