Updated report card
NETSTREIT (NYSE: NTST) added its name to the list of investment grade rated net lease REIT with a BBB- issuer rating (stable outlook) from Fitch Ratings.
As of 9/30/2025, NTST owned a portfolio of 721 properties totaling 13.2 million square feet that is 99.9% leased for a weighted average remaining term of 9.9 years. Approximately 47% of the REIT’s annualized base rent is generated from tenants rated investment grade.
At least 15 publicly traded net lease REIT carry an investment grade debt rating from one or more major rating house.
Private partners
Publicly traded Realty Income (NYSE: O) announced the closing of an additional $816 million in commitments from third-party investors for its private perpetual life U.S. Open-End Core Plus Fund, bringing total 2025 closed commitments to $1.5 billion.
The firm expects to finalize its cornerstone equity raise at a $1.7 billion cap by March 31st. Limited partners include a diversified base of institutional investors.
For context, the four largest net lease-focused, perpetual non-traded REIT (Blue Owl, Fortress, North Haven, and New Mountain) have raised in excess of $3.8 billion in 2025 - excluding any private funds vehicles.
Deal Sheet
-SRS Capital Markets (Dorfman) announced two closings. First, an El Car Wash property in West Palm Beach, FL subject to a 20-year absolute net lease for $6.45 million. Second, an Arby’s restaurant in York, SC sold to a 1031 exchange buyer for $2.6 million.
-Matthews (Chhajed/Moreno/Swade) announced the sale of a ProHealth Physicians (UnitedHealth) build-to-suit in Bristol, CT for $19.9 million. The 26,000 sq. ft. property is subject to a 12-year NNN lease.
-Brisky Net Lease announced the sale of a triple net leased Michaels’ retail property in Baxter, MN for $1.55 million. The 23,500 square foot store sits on 2.2 acres and is subject to a lease with 6 years remaining.
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