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American Finance Trust closes $119M of acquisitions in Q3

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American Finance Trust closes $119M of acquisitions in Q3

Diversified real estate investment trust American Finance Trust Inc. said it closed $119.3 million worth of acquisitions, comprising 62 properties totaling about 281,000 square feet, in the third quarter.

The properties are leased to seven tenants and have a remaining weighted average lease term of 16.2 years.

The acquisitions include seven properties leased by Dialysis Portfolio; two properties leased to Children of America; one property leased to Burger King; nine properties leased to White Oak; 22 properties leased to Bob Evans; 14 properties leased to Mountain Express; and seven properties leased to Taco John's.

The acquisitions represent a weighted average going-in cap rate of 7.1% and a weighted average GAAP cap rate of 8.2%.