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.
