Brentwood, Tennessee-based developer and real estate sponsor CMK Properties recently completed a $54.6 million sale of a 35-store Dollar General portfolio located across 12 states.
CMK Properties, a Brentwood-based real estate services firm, recently closed the purchase of its 33rd Dollar General store. The store, located in Anderson, Indiana, opened to the public in June. This was CMK’s fourth Dollar General acquisition to date in 2018.
“We are continuing to see strong investor demand for our solid, stable and predictable DG Investments offerings,” said CMK’s President John Hopfensperger. “We plan to continue on our path of acquiring excellent Dollar General stores and assembling the finest DG portfolio in the country.”
“We are not swinging for the fences with this strategy,” Hopfensperger continued. “Our structure provides investors with outstanding current cash flow and capital preservation. We make it easy for accredited individual investors and family offices to invest in institutional-grade real estate without the management hassle or large investment minimums. We view Dollar General as an outstanding tenant that is Amazon-resistant and does well in both up and down economies.”
According to Hopfensperger, CMK aims to buy three more Dollar General properties by the end of the year.