Net Lease

The agreement gives GPM flexibility in its growth strategy.

Generally, these fixed-rate 20- or 30-year loans offer interest rates in the 5% to 6% range.

While most core or core-plus investors expect their unlevered target returns to fall slightly or stay the same, those further out on the yield curve anticipate gains.

Still, one observer doesn't see flashing red lights.

Closures are most related to declines in economic prosperity and diminished access to quality transportation infrastructure.

Some sellers are disappointed they cannot yet achieve pre-pandemic prices.

While lower-quality product is coming online, supply of high-quality assets with long-term leases for sale remains tight.

Single-tenant bank ground lease national asking cap rates decreased 12-basis points year-over-year to 5.35%.