Pharma Property Group Executes 1031 Exchange of 9 Properties Totaling $43,350,000
Pharma Property Group recorded nine sales over a 45-day period with a total of approximately $43,350,000. These sales included 1031 exchanges representing sellers as well as purchasers.
“It was important for our clients to buy quality net lease drugstore properties while achieving a specific return,” explained Nick Price who is a Senior Vice President at Pharma Property Group. “We were able to achieve 72% financing leverage for our clients by delivering strong performing drugstores located on quality corner locations.”
“We helped guide our buyers through their 1031 exchange by showing drugstores on and off market. It is paramount our clients understand the positives and negatives of each property and location,” stated Jason Stuart Pongsrikul, the founder and manager of Pharma Property Group.
Pharma Property Group has the team of dedicated real estate professionals with the drugstore knowledge to help their clients understand the current market and the best way to leverage their money into quality investments. “We treat each sale as if we were making the investment ourselves. We were able to help our client achieve their target lease term, leverage and financing rates below 4%,” said Mr. Pongsrikul.
Pharma Property Group (PPG) has over $1 Billion in closing transaction experience and specializes in providing commercial real estate services to landlords who own properties occupied by Walgreens, CVS and Rite Aid. Pharma Property Group is one of the top brokerage firms in the country in drugstore property closing volume and has an unparalleled drugstore marketing platform providing access to the largest pool of drugstore landlords in the nation.
Jason Pongsrikul and Nick Price
Pharma Property Group
5322 Banks Street
San Diego, CA 92110
Office: (619) 297-0055