Wednesday, May 6, 2015

National Retail Properties Announces First Quarter 2015 Operating Results


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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