IRA Capital Acquires Walgreens in Washington DC MSA

IRA Realty Capital, LLC announced today that Net Lease Income Fund I, LLC completed the acquisition of a Walgreens drugstore in the Washington DC MSA.The property is leased on an absolute net-lease basis to Walgreens for an intial term of 20 years. The Walgreens property is positioned on the corner of Ritchie Highway and Robinson Road, which is the predominant interestection in the trade area. The property lies amongst several sizable shopping centers including one anchored by Food Lion (immediately to the rear of the site), and another by Kohl’s and Giant less than a quarter mile to the south. There is minimal drug store competition along Route 2. Upscale residential surrounds this retail corridor with household incomes in this area exceeding $125,000.The intersection of Ritchie Highway and Robinson Road in Severna Park provides for an average daily traffic count of more than 60,000 cars. According to Amer F. Kasm, a principal of IRA Realty Capital, “The combination of the location, Walgreens’ stellar credit rating, and the above market yield make this an exciting acquisition for the Fund”IRA Realty Capital is a privately‐held real estate investment and management firm that focuses on maximizing risk‐adjusted returns while protecting and growing investment capital. Net Lease Income Fund I, LLC is a private fund formed in July 2010 to invest in a diversified portfolio of freestanding, single-tenant, net-leased properties located throughout the United States. Net Lease Income Fund I is managed by IRA Realty Capital, LLC. The fund sponsors are Amer F. Kasm, Samir M. Patel, and Mohannad S. Malas. Additional information can be found at www.iraRealtyCapital.com