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 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