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| Craig Macnab |
Orlando, FL –
National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust,
announced its operating results for the quarter ended March 31, 2015. Highlights include:
• Portfolio
occupancy was 98.8% at March 31, 2015, as compared to 98.6% at December 31,
2014 and 98.2% at March 31, 2014
Investments and Dispositions for the quarter ended March 31,
2015:
• Investments:
◦ $155.2 million
in property investments, including the acquisition of 56 properties with an
aggregate 782,000 square feet of gross leasable area at an initial cash yield
of 7.3%
• Dispositions:
◦ Six properties
with net proceeds of $23.3 million producing $7.1 million of gains on sales,
net of income tax and non-controlling interest
Capital Transactions for the quarter ended March 31, 2015:
• Raised $48.7
million in net proceeds from the issuance of 1,223,827 common shares
Craig Macnab,
Chief Executive Officer, commented: "In the first quarter we benefited
from our differentiated acquisition approach purchasing the bulk of our
properties directly from sellers, with no intermediaries involved.
“The cash yields in these retail properties are well in
excess of our cost of capital and will improve over time as the rent increases
over the long duration of the leases.
"We are optimistic about the remainder of
2015 as our balance sheet remains very strong and we continue to find
opportunities to selectively deploy capital while growing per share
results."
National Retail Properties invests primarily in high-quality
retail properties subject generally to long-term, net leases. As of March 31, 2015, the company owned 2,104
properties in 47 states with a gross leasable area of approximately 23.1
million square feet and with a weighted average remaining lease term of 11.5
years.
For more information
on the company, visit www.nnnreit.com.
For a complete copy
of the company’s news release, please contact:
Kevin B. Habicht
Chief Financial Officer
(407) 265-7348
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