Flower Foods
Flower Foods
NEW NET LEASE INVESTMENT FUND PURCHASES DISTRIBUTION FACILITY
NORTHBROOK, ILLINOIS, UNITED STATES, September 15, 2021 /EINPresswire.com/ — Envoy Stable Income Fund, LLC (ESI Fund), a private real estate fund company, has acquired a Flowers Foods distribution center in Enterprise, AL. This marks the third acquisition for the ESI Fund.
Located at 612 Glover Avenue in Enterprise, the 6,500 sq. ft. Flowers Foods distribution facility is 100% leased to Flowers Baking Co. of Thomasville, LLC, a subsidiary of Flowers Foods, Inc. Flowers Foods’ bakery products are available to 85% of the U.S. population. Among the company’s top brands are Nature’s Own, Dave’s Killer Bread, Wonder and Tastykake. Most of Flowers customers are “essential retailers” including its top customer, Walmart.
Flower Foods is the leading bakery distribution in the U.S. and fits in perfectly with ESI Fund’s strategy of buying properties that are essential for both the tenant and the surrounding community. “Enterprise, Alabama is the peanut capital of the U.S.”, says Mr. Cram, President of ESI Fund. “What is more essential to peanut butter than bread to put it on.” Mr. Cram continues, “This new facility improved the Flower Food’s efficiency in serving its customers around the Enterprise area. It’s another example of our focus on tenants that provide essential services to their communities.”
Envoy Fund Management, LLC, which serves as manager for the ESI Fund, will provide asset and property management services for the property. The Net Lease Group of Atlanta represented the seller on the transaction.
ABOUT ENVOY STABLE INCOME FUND, LLC
Envoy Stable Income Fund, LLC is a private real estate fund that intends to own a diversified portfolio of net lease properties leased to commercial, retail, restaurant, service, medical and light industrial tenants. The fund will focus on sourcing completed build-to-suit developments and one-off acquisitions of properties that are long-term NNN-leased to creditworthy tenants.
The ESI Fund’s objective is focused on current income, preservation of capital and long-term capital appreciation. As of May 1st, 2021, the ESI Fund has purchased two properties with several more properties under contract. The companies expect for the fund to be fully invested within one year with an anticipated holding period of 4-5 years. As a real estate alternative for accredited income investors, the Fund aims to produce a stable quarterly income for investors throughout the holding period with a projected 9.0% total return for its investors.
The ESI Fund is managed by Envoy Fund Management, LLC, a wholly owned subsidiary of Envoy Net Lease Partners, LLC. To learn more about the ESI Fund please visit www.envoynnn.com/esif or contact Ralph Cram at 847.239.7250 or rcram@envoynnn.com. For acquisition inquiries, please contact Ron Max at rmax@envoynnn.com or (847) 634-7317.
ABOUT ENVOY NET LEASE PARTNERS, LLC
Envoy Net Lease Partners, LLC is a finance and asset management firm, based in the greater Chicago area, that acquires and finances single-tenant, net lease properties. In regard to financing properties, Envoy provides capital in the form of high-leverage construction loans, mezzanine debt and equity financing to developers of single-tenant, net lease properties nationwide. Since its inception in 2011, Envoy’s team of investment professionals has closed over 100 transactions in excess of $300 million of total project costs for real estate developers and investors, in many cases up to 100% of the capital required to develop the properties. As manager, Envoy has led seven investment offerings related to the development of eight net lease properties and one investment offering of related to a sale/leaseback transaction. In total, Envoy has raised capital from more than 100 outside investors. To learn more please visit envoynnn.com.
Ralph Cram
Envoy Net Lease Partners
+1 847-239-7250
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