The Partners Fund recently closed its investment in a Starbucks-anchored mixed use commercial property. We invested in the property based on several key factors.

The average lease has been renewed through 2027, with many lease not coming up for renewal until 2030-2032. This provides stable cash flow and distributions through the hold period.

The largest restaurant tenant occupying part of the property has several locations, however, this is their highest grossing and most profitable location. We are confident the tenant will continue to renew their lease for the foreseeable future.

The remaining tenants include a dentist office, financial institution, swim center, and several well-operated businesses.

In addition to the favorable tenant mix and lease terms, demographic data for the area points to a younger, affluent household. The area's unemployment rate of 2.3% is well below the national average, while average household income of $126,361 is ~15% above the state's average.

We expect to hold the property for several years with the possibility of an exit in years 5 to 7.