- In Q2 of 2020 CIRE acquired a single tenant bank portfolio of three Old National Banks located in Indiana. The investment contains a corporately guaranteed lease from an investment grade tenant, Old National Bank (Aa3 Moody’s Credit Rating). The current lease term runs until 2022 and has four, five year option periods with annual rent increases throughout the remaining lease term and option periods.
- Old National Bank, Ferdinand, IN, is located in the immediate area of several retail tenants including: CVS Pharmacy, Napa, Subway, Dollar General, Citgo, German American Bancorp, Express Lube, Wendy’s, Subway, Domino’s, Comfort Inn, etc.
- Old National Bank, Covington, IN, is in the immediate area of retail tenants including: Dollar General, CVS Pharmacy, Marathon, Subway, MainSource Bank, Centre Bank, U-Haul, Parish Tire & Battery Shop, Covington Foods Inc., etc.
- Old National Bank, Clinton, IN, is located in the immediate area of several tenants including: First Financial Bank, Fifth Third Bank, TrueValue Hardware, Ace Hardware, Dairy Queen, Cingular Stores, Citgo Gas, etc.
Single-Tenant NNN Leased