Dollar General Store
New Net Lease Investment Fund Purchases Retail Store in Itta Bena, MS.
NORTHBROOK, IL 60062, ILLINOIS, UNITED STATES, June 16, 2021 /EINPresswire.com/ -- Envoy Stable Income Fund, LLC (ESI Fund), a private real estate fund company, has acquired a Dollar General retail store in Itta Bena, MS. This marks the second acquisition for the ESI Fund.
Located at 39240 Highway 82 in Itta Bena, the 11,548 sq. ft. Dollar General store is 100% leased to Dolgencorp LLC and guaranteed by Dollar General Corporation. The subject store has successfully operated at this location since 2009 and was selected for expansion to Dollar General’s new “Plus” store format, which carries more dry goods and has a larger storage and receiving area. The location is across the street from Mississippi Valley State University and is the only grocery store in the area.
“This acquisition represents key components that we look for in a net lease property for the ESI Fund: a successful track record of operations, best-in-class tenant, reasonable investment cost and limited competition” said Ralph Cram, ESI Fund’s President.
Envoy Fund Management, LLC, which serves as manager for the ESI Fund, will provide asset and property management services for the property. ESI Fund purchased the property all-cash on a forward contract basis.
About Envoy Stable Income Fund, LLC
Envoy Stable Income Fund, LLC is a private real estate fund that intends to own a diversified portfolio of net lease properties leased to commercial, retail, restaurant, service, medical and light industrial tenants. The fund will focus on sourcing completed build-to-suit developments and one-off acquisitions of properties that are long-term NNN-leased to creditworthy tenants.
The ESI Fund’s objective is focused on current income, preservation of capital and long-term capital appreciation. As of May 1st, 2021, the ESI Fund has purchased one property with several more properties under contract. The companies expect for the fund to be fully invested within one year with an anticipated holding period of 4-5 years. As a real estate alternative for accredited income investors, the Fund aims to produce a stable quarterly income for investors throughout the holding period with a projected 7.0% annual return for the investors.
The ESI Fund is managed by Envoy Fund Management, LLC, a wholly owned subsidiary of Envoy Net Lease Partners, LLC. To learn more about the ESI Fund please visit www.envoynnn.com/esif or contact Ralph Cram at 847.239.7250 or rcram@envoynnn.com. For acquisition inquiries, please contact Ron Max at rmax@envoynnn.com or (847) 634-7317.
About Envoy Net Lease Partners, LLC
Envoy Net Lease Partners, LLC is a finance and asset management firm, based in the greater Chicago area, that acquires and finances single-tenant, net lease properties. In regards to financing properties, Envoy provides capital in the form of high-leverage construction loans, mezzanine debt and equity financing to developers of single-tenant, net lease properties nationwide. Since its inception in 2011, Envoy’s team of investment professionals has closed 83 transactions in excess of $264 million of total project costs for real estate developers and investors, in many cases up to 100% of the capital required to develop the properties. As manager, Envoy has led seven investment offerings related to the development of eight net lease properties and one investment offering of related to a sale/leaseback transaction. In total, Envoy has raised capital from more than 100 outside investors. To learn more please visit envoynnn.com.
Ralph Cram
Envoy Net Lease Partners
+1 847-239-7250
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