"Net leased Best Buy stores within AEI commercial net leased real estate funds confirms our strategy of owning high quality net leased properties occupied by tenants who are the leaders in their categories. Best Buy is an excellent tenant and we are pleased to have these properties in our portfolio," says George Rerat, managing director of acquisitions for AEI.
The purchases fit perfectly into St. Paul-based AEI's new investment strategy, which entails making purchases on an all cash, no debt basis, as well as securing long-term leases with major tenants in prime locations.
"Net leases with a primary term of a decade or longer bridge economic and real estate cycles, protecting our investors' capital," Rerat says.
AEI, one of the oldest commercial real estate investment fund sponsors, now has bought 299 properties in 37 states. Its portfolio is worth more than $441 million.
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