What We Do
Our Capabilities and Project Criteria
Bonsap LLC and its partners, NNN Lease Investors and NNN Lease Developers, work together as buyers and developers of properties subject to long term NNN leases to a single tenant with an investment grade credit rating.
Three Types Of Transactions
These transactions take three forms:
- Sale and Leaseback
- Acquisition Financing
Additional Value Options
In addition, there are optional structures that can deliver additional benefits to the tenant or its designee that we can use. The key characteristic is that the asset must qualify as real property and have a significant depreciable component to it.
Uses can be single tenant office, retail, industrial, student or senior housing, distribution, warehouse, etc.
Unconventional uses such as stadiums, arenas, refineries, casinos, are possible on a case-by-case basis. Tenants can be
corporations, universities, hospitals and other healthcare providers, state & local governments, hotels, etc.
Typical transaction size ranges from $20 million to several hundred million dollars.
Minimum size is $10 million and there is no practical upper size limit. Minimum time remaining on the primary lease term must be 15 years.
Typical new leases are at least 20 years, and the effective cost of this financing structure declines as the lease term increases to just under 30 years.