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FARMINGTON HILLS, MI-Agree Realty Corp. has bought out a portion of a joint partnership of three properties in three different states. The company paid $9.1 million for its joint venture partner’s interest in three single-tenant properties.

Agree now owns 100% of the properties leased to a national retailer in Indianapolis, Oklahoma City, OK and Omaha, NE.

Agree declined to identify the partner or the national retailer.

The deal was financed using a combination of the company’s secured line of credit and a fixed-rate mortgage.

Agree owns and operates a portfolio of 48 properties, located in 13 states and containing an aggregate 3.6 million sf in gross leasable area. Its primary focus is neighborhood community shopping centers, or single-tenant properties leased to major retail tenants.

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