N3 Real Estate Secures $105 Million Credit Facility

Southlake, Texas – December 3, 2013 – N3 Real Estate of Southlake, Texas announces today that it has secured a $105 million secured facility backed by a portfolio of more than 50-net-leased retail assets.  The properties are predominantly single-tenant, triple net lease assets in various cities across the United States.

HFF worked on behalf of N3 Real Estate to secure the $105 million financing through KeyBank Real Estate Capital.  The transaction included a $60 million term loan, a $45 million revolver and a $145 million accordion.  The facility will allow N3 to grow its portfolio significantly in the future.   The initial portfolio is 100% occupied with an average remaining lease term of over 11 years.  Furthermore, the portfolio’s tenant profile is roughly 35% investment grade.

N3 Real Estate is a fully integrated retail real estate investment and net lease development firm based in Southlake, Texas.  Founded in 2004, N3 has completed over 200 developments for national and regional retailers and has another $250 million immediately available for single-tenant properties, grocery-anchored centers and neighborhood strip centers.

Direct media contact / interview:
Brenna Wadleigh, CEO
Direct: 817.552.6781
Email: bwadleigh@n3realestate.com