MIAMI, Aug. 13, 2021 /PRNewswire/ — Miami-based Limestone Asset Management, via a joint venture with Orion Real Estate Group, closed on a Walgreens portfolio for $133 million on June 3, 2021. The portfolio encompasses 27 locations throughout the country. Limestone Asset Management invests in and acquires real estate properties over all asset classes throughout North America.
Wells Fargo is providing financing. Kevin Sanz, president of Orion Real Estate Group, led the buyer group. Brian Pfohl, executive vice president of CBRE Inc., and Maury Vanden Eykel, senior vice president of CBRE Inc., represented the seller.
"We are extremely pleased to acquire this large Walgreens portfolio, featuring excellent sites with long-term value and a high-quality credit tenant," said Ibrahim Al-Rashid, chairman of Limestone Asset Management. "This purchase reflects Limestone’s dedication to expanding its portfolio over all asset classes."
Limestone Asset Management is an affiliate of Orion Real Estate Group, its joint venture partner in the deal. Limestone Asset Management uses Orion Real Estate Group’s expertise to complete all of its North America-based transactions.
About Limestone Asset Management: Miami-based Limestone Asset Management was founded in 2010 and invests in and acquires real estate properties over all asset classes throughout North America. For more information, visit https://orionmiami.com/our-affiliates/.
About Orion Real Estate Group: Orion Real Estate Group provides commercial real estate services to investment clients around the world. Since its founding in 1978, the firm has been involved in more than $4 billion in transactions and holds a portfolio exceeding $800 million. Its headquarters are located at 200 S. Biscayne Blvd, 7th floor, Miami, FL 33131. For more information, visit https://orionmiami.com/ or call (305) 278-8400 or 1-888-255-4502.
Durée & Company, Inc.
SOURCE Limestone Asset Management