Baxter Springs, Kansas — CMK Properties is pleased to announce the successful acquisition of a…
As published in the Nashville Post
Brentwood-based real estate investment firm CMK Properties announced Thursday it has purchased its 20th and 21st Dollar General store properties.
Neither financial terms of the deal nor the seller(s) were disclosed in a release.
In the process of the acquisition, CMK has closed its fully subscribed CMK DG Income Fund. The fund, CMK’s largest DG offering to date, purchased a collective eight Dollar General properties.
CMK, which reached the 21-store level in about 48 months, said it will continue a long-term strategy of adding to its portfolio of DG real estate nationwide.
The strategy has resulted in recent returns for investors that range from 10 to 13 percent, the company said in the release.
John Hopfensperger (pictured), CMK chief executive officer, said the firm plans to add another four to eight Dollar General store properties to its portfolio in 2017.
“We continue to adhere to an efficient investment model that puts more of our investors’ money to work for them,” he said in the release. “The consistent growth of our DG Investments offerings is a direct result of their reliable and attractive performance. These aren’t ‘swing-for-the-fences’ investment offerings; rather, they are focused on capital preservation and healthy current cash flow backed by investment-grade credit.”
Based in Goodlettsville, Dollar General typically leases the buildings from which it operates its retail stores. The company owns and operates about 13,200 stores.