• Tue. Jun 21st, 2022

Modiv concludes three commercial real estate transactions


Newport Beach, California, August 03, 2021 (GLOBE NEWSWIRE) – Transactions include property acquisition, sale and lease renewal, indicating healthy activity in Modiv’s portfolio in the Texas real estate market

Modiv Inc., an innovative real estate, fintech and proptech asset manager, today announced that it has completed three separate commercial real estate transactions in central Texas. The transactions include an acquisition and lease renewal in San Antonio and a property sale in the greater Austin area, comprising a cumulative total of 99,265 square feet of real estate activity.

Details of transactions in Texas include:

  • The acquisition of a 3,800 square foot quick-service restaurant leased to Raising Cane’s®, located at 19110 Stone Oak Parkway in San Antonio. Founded in 1996, Raising Cane’s is a popular and growing quick-service restaurant brand specializing in chicken fingers with approximately 550 restaurants in 30 states and the Middle East. The property is located along a main thoroughfare close to schools, medical facilities and new residential developments.
  • An eight-year lease renewal for a Pre-K 4 SA educational center, located at 1255 Old Highway 90 W in San Antonio. The 50,000 square foot facility is leased to the San Antonio Early Childhood Development Corporation (“Early Childhood”) and the lease is guaranteed by the City of San Antonio. This pre-K center is one of four in San Antonio Market and has over 400 students. Modiv worked closely with the Early Years Board of Directors on the transaction, allowing the center to continue its mission of providing high quality and impactful early childhood education opportunities to the community of San Antonio.
  • The sale of a 45,465 square foot industrial property located at 5900 183A Frontage Road in Cedar Park has been completed with an aerospace technology company. The award came ahead of the most recent independent valuation illustrating the strength of the greater Austin area commercial real estate market.

“These transactions reflect our team’s ability to drive value and actively manage our diverse portfolio of properties,” said David Collins, director of property at Dallas-based Modiv. “We continue to be optimistic about the continued growth of the Texas commercial real estate market and believe our investments in the region can provide long-term value to our investors.”

In Texas, Modiv also owns an office building in Dallas leased to Texas Health Resources and a commercial building in Big Spring leased to Dollar General.

Forward-looking statements
Certain statements contained in this document, other than historical facts, may be considered as forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934., as amended (the “Exchange Act”). Modiv intends that all such forward-looking statements be covered by the safe harbor for forward-looking statements provisions contained in Section 27A of the Securities Act, Section 21E of the Exchange Act and other applicable laws. These statements include, in particular, statements about Modiv’s ability to enhance value and actively manage its portfolio, the strength of the Texas real estate market and the ability to deliver long-term value. Therefore, these statements are not guarantees of future results and are subject to risks, uncertainties and other factors, some of which are beyond Modiv’s control, are difficult to predict and could cause actual results to differ. substantially from those expressed or implied in the viewing statements. Accordingly, Modiv makes no representations or warranties, express or implied, as to the accuracy of these forward-looking statements contained below. Unless otherwise provided by federal securities laws, Modiv does not undertake to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unforeseen events or changes in future operating results, whether as a result of new information, future events or otherwise.

About Modiv
Modiv Inc., a real estate, fintech and proptech asset manager, is reinventing modern real estate investing for individual investors. Driven by innovation, investor priority and an experienced management team, Modiv has created one of the largest unlisted real estate investment funds to raise via crowdfunding technology and the first real estate crowdfunding platform. wholly owned by investors. Modiv provides individual investors with access to real estate and real estate related investments designed to provide both income and long-term growth. To learn more, visit modiv.com.

Contact
Associate Vice-President
Hudson pitts
RUBESTEIN
[email protected]
248-767-1688


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