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REPRESENTATIVE TRANSACTIONS

10 Transactions

Citizens Bank Portfolio(s)

Sansome Pacific has purchased two separate portfolios of Citizen Bank N.A. assets over an 18 month period totaling over $80m. The first closed in early 2018 and consisted of 27 bank assets for $21M. The second tranche closed in late 2019 and contained 52 branches for a price of $59M. The entire portfolio was spread out over 9 states with lease terms ranging from 3 to 6 years.

Fresh & Easy Grocery Portfolio

In early 2014 Sansome acquired two portfolios of vacant and leased grocery assets through Chapter 11 bankruptcy from Fresh & Easy for $150m. Fresh & Easy buildings were smaller 14,000 square foot stores. Included in the portfolio were 53 dark assets (both land and building) and 14 sale leaseback assets with the Yucaipa sponsored ‘newco’ tenant. Subsequently in December 2015, the ‘newco’ entity filed Chapter 7 and vacated the remaining assets in the portfolio. To date, Sansome has re-tenanted and/or sold approximately 65% of the two portfolios.

United Oil

Starting in 2014, Sansome Pacific and its joint venture partners established United Oil and began acquiring various portfolios of gas station properties throughout California, Nevada, Oregon, Washington and Colorado that included the retail gas business, a wholesale fuel business and a fuel transportation business. United Oil now has over 320 locations and is one of the largest independent operators of gas and c-stores in the Western United States.

Brinker Restaurant Portfolio

In 2016, Sansome Pacific and its joint venture partners acquired a portfolio of 62 restaurant properties and 1 office building located in 15 states for $127M. The portfolio contained a 5-year master lease on all of the assets with a credit tenant at the time of closing. Sansome is actively re-tenanting and re-positioning the portfolio.

KBS Bank Portfolio

In 2012 Sansome Pacific and its joint venture partners acquired a distressed portfolio of 145 bank assets for $172M via a note purchase and foreclosure.  The portfolio consisted of primarily retail bank branches with an average lease term of approximately 4.5 years and over 30 different bank tenants. The portfolio was approximately 12% vacant at close. Sansome Pacific has re-tenanted and repositioned the entire portfolio.

Walgreen Portfolio

In 2011 Sansome Pacific and its joint venture partners acquired a portfolio of fifteen Walgreen drug stores for $54.1M. The properties consisted of both NN and NNN leases with varying terms. Sansome Pacific was able to restructure and convert the portfolio to long term NNN leases.

Hardees Restaurant Portfolio

In 2010, Sansome Pacific and its joint venture partners acquired a portfolio of 36 Hardees restaurants in VA and NC with an average lease term of 6 years. Sansome Pacific negotiated an arrangement with tenant that included property upgrades and profit participation in exchange for long term leases.

Coventry Leasehold Portfolio

Sansome Pacific and its joint venture partners purchased a portfolio of 15 retail leasehold assets in 2012 totaling 793,000 SF. The properties were located in nine states with lease terms ranging from 18 months to 30+ years.

Rite Aid Portfolio(s)

Sansome Pacific and its joint venture partners acquired 21 Rite Aid drug stores in three separate portfolios between 2012-2014. The properties were located in eight states and all had shorter lease terms with strong sales. Sansome Pacific was successful in negotiating long-term leases.

United Oil Portfolio

In 2014 Sansome Pacific and its joint venture partners purchased a portfolio of 130 gas station properties throughout California, along with the associated retail gas business, a wholesale fuel business and a fuel transportation business.

7 Transactions

Bass Pro

Sansome Pacific and its joint venture partners, completed a sale-leaseback with Bass Pro Group, LLC for $324M. The portfolio consisted of 11 freestanding Cabela’s and Bass Pro retail stores totally approximately 1.6m SF. The assets were located in 8 states and contained a new long term NNN lease with annual rent bumps at closing.

Willbros Sale-Leaseback

Sansome and its joint venture partners, completed a sale-leaseback in 2011 with Willbros Group, Inc. for $10M. The portfolio consisted of 129,000 SF of industrial and offices assets located in TX and OK.

CVS Sale-Leaseback

Sansome Pacific and its joint venture partners, completed a sale-leaseback with CVS Health Corporation for $244M. The portfolio consisted of 53 retail drug stores located in 20 states and contained a long term NNN lease.

Collins & Aikman Sale-Leaseback

Sansome completed a sale-leaseback with Collins & Aikman Corp in 2005 of six industrial assets in NC and MI totaling approximately 1.5M SF. The tenant was a high-risk automotive tenant who eventually went bankrupt. Sansome Pacific was able to re-tenant and/or resell the assets for a profit.

Fresh & Easy Sale-Leaseback Portfolio

Sansome Pacific and its joint venture partners, completed a $110M sale-leaseback of a 680,000 SF distribution center and 14 retail stores located in CA, NV and AZ.  The acquisition was part of tenant’s Chapter 11 restructuring in 2013.

Allied Furniture

Jonesboro, AR

Sansome Pacific purchased a sale-leaseback investment located at 3606 East Highland Drive in Jonesboro, AR. This 25,000 square foot freestanding retail flex building has a showroom, an office and warehouse space situated on a 1.25-acre parcel. This deal had good intrinsic value due to its attractive price per square foot and its location adjacent to the newly built Turtle Creek Mall, anchored by Target and Best Buy.

Merrill Lynch Campus

Princeton, NJ

In 2012, Sansome Pacific and its joint venture partners completed a sale-leaseback with Merrill Lynch for $364M. The property consisted of a 12-building office campus totaling 1.8M SF with lease terms varying from 12-years to 2-years.

4 Transactions

WAMU Bank Portfolio

Sansome acquired a portfolio of 32 vacant bank branches for $36m from Washington Mutual. The assets were surplus branches (as a result of WAMU buying Great American Savings and Great Western Savings banks) located throughout California. Sansome re-tenanted and redeveloped the portfolio over a 5-year period and still owns many of the stabilized assets today as a result of the original bank portfolio.

Fresh & Easy Dark Portfolio

Sansome and its joint venture partners, purchased a portfolio of 35 former Fresh & Easy land and building assets located in CA, NV and AZ. The acquisition was part of tenant’s Chapter 11 restructuring in 2013.

CHASE Bank Portfolio

In 2016, Sansome Pacific and its joint venture partners acquired a portfolio of 77 bank branch properties from JP Morgan Chase. The portfolio was approximately 70% vacant at close of escrow with very short-term leasebacks on the balance of the portfolio. Sansome is actively re-tenanting and re-positioning the portfolio.

Fresh & Easy Dark Portfolio

Sansome Pacific and its joint venture partners purchased a portfolio of 35 former Fresh & Easy land and building assets located in CA, NV and AZ. The acquisition was part of tenant’s Chapter 11 restructuring in 2013.

Reposition

6 Transactions

BJ’s Wholesale

In 2010, Sansome and its joint venture partners, purchased a BJ’s Wholesale property in Canton, OH with a short term lease and strong sales. Sansome was successful in negotiating a long-term lease with the tenant.

Sunwest

In 2019, Sansome Pacific acquired a value-add portfolio of 27 retail properties for $29.8M. The portfolio is spread out over 9 states and totaled over 690,000 SF. The properties are had been extremely mismanaged and with below market rents and create opportunity for Sansome add value through investment and re-positioning.

Trader Joes/Walgreen

Oakland, CA

Sansome Pacific completed the leasehold purchase of a former Albertson’s Grocery store and management contract of the 2-story urban parking structure in the Lakeshore district of Oakland, CA in 2006. Sansome Pacific executed on a $6M renovation and repositioning for Trader Joes and Walgreen Drugstore.

CVS Drug/Trader Joes

Walnut Creek, CA

Sansome Pacific completed a leasehold purchase of an infill, urban former Albertson’s Grocery store in the downtown core of the upscale community of Walnut Creek, CA in 2006. Sansome Pacific executed on a $5M full renovation, demising and repositioning of the Property for Trader Joes and Pet Food Express.

Pointe West Shopping Center

Sacramento, CA

Sansome Pacific purchased an assemblage of an older retail shopping center property for $10m in 2012. Sansome Pacific then executed on the expansion, facelift, releasing and renovation plan to revitalize this 170,000 square foot shopping center. Tenants are now Kohl’s, Hobby Lobby, Old Navy, Pier One Imports, Petco and David’s Bridal.

2190 Shattuck Avenue

Berkeley, CA

Sansome Pacific made an $8M acquisition of an urban infill, multi-story vacant former department store at the main Berkeley BART station in downtown Berkeley in 2011. Sansome Pacific Executed on a $5M medium term renovation and repositioning of the property into ground floor retail, technical school and 2nd level offices and participating to entitle a residential city overlay for an 18 story potential residential tower. Current tenants are Walgreen Drugstore, Nokia/Microsoft Research facility and Fast Response.

Ground Up Development

2 Transactions

Brentwood Junction

Brentwood, CA

Sansome Pacific assembled two properties to rezone, design and develop a 61,000 square foot shopping center on 6 acres. Entitlement approvals were then obtained for five buildings with leased build-to-suits for a Walgreens, Best Buy, a Melo’s Pizza & Pasta and First Bank. The fifth building was then fully leased to a Nations Burgers, and local shops owners.

The project was subdivided into 4 parcels to create maximum flexibility and values in the event of a sale.

Balfour Shopping Center

Brentwood, CA

Sansome Pacific purchased a 3 acre site to design and develop a 27,000 square foot retail center. City approvals were then obtained for a freestanding Walgreens with pharmacy pickup window, retail stores and a separate bank building. The Shops building was fully leased to local tenants.

Build to suit

3 Transactions

Talbots

Walnut Creek, CA

Sansome Pacific assembled a former bank building and adjacent Goodyear Tire store in downtown Walnut Creek to redevelop the two properties. The ½ acre project was designed, approved and constructed for the Talbot’s Flagship to house their 5 distinct stores. The project includes a very unique urban amenity of rooftop parking.

Walgreens

Oxnard, CA

Sansome Pacific purchased 2.5 acres to develop a retail site . City approvals included a freestanding Walgreens with pharmacy pickup window and an adjacent retail shops building. The Shops building included a Starbucks drive-thru and was fully leased to local and regional tenants.

Walgreens

Bakersfield, CA

Sansome Pacific purchased a vacant pad in a Raley’s shopping center to develop the site. The project was designed, approved, and constructed for a prototype Walgreens store with a pharmacy pickup window.

Committed Takeout

2 Transactions

American Tire Distribution (ATD) Build-To-Suits

NH & WV

Sansome Pacific and its joint venture partners, acted as a ‘guaranteed take-out’ for a two (2) build-to-suit distribution facilities in Manchester, NH and Charleston, WV. The facilities were 125,000 SF each and contained an 11-year NNN lease with annual escalations. Sansome Pacific closed on the properties upon completion of construction for $15.2M at a pre-negotiated cap rate with the developer.

Allstate Build-To-Suit

Chubbock, ID

Sansome Pacific and its joint venture partners, financed and acted as a ‘guaranteed take-out’ for a new 75,000 SF build-to-suit call center facility in Chubbuck, ID. Sansome Pacific acquired the 9.5 acres of land, financed the construction and ultimately owned the property at a pre-negotiated cap rate with the developer.

Redevelopment

1 Transactions

Houston Bay Area Chase Bank

This property was originally part of an 77-property surplus bank branch portfolio from Chase Bank. The property was originally leased to Chase under a short-term lease. Sansome worked with Chase to process and entitle a new 4,500 SF prototype Chase Bank and parceled the 4-acre property into two 1-acre parcels, as well as a 2-acre parcel for future use. Sansome negotiated a sale of 1 parcel to Chase and executed a ground lease with Raising Canes on the adjoining parcel to be developed together. The final 2-acre parcel is being marketed by Retail Connection in Houston.

EXPERTISE

Our portfolio includes a wide range of assets classes including single tenant net leased properties of all product types; multi-tenant retail; sale-leaseback portfolios; portfolios of surplus corporate real estate property; stabilized apartments and mixed used development projects.

SINGLE TENANT

PORTFOLIOS

SINGLE TENANT

SALE LEASEBACK

SINGLE TENANT

SURPLUS/ DISTRESSED

SINGLE TENANT

DEVELOPMENT/ VALUE ADD