American Firm Buys Legendary McLaren F1 Headquarters
New York-based Global Net Lease will lease the 840,000 square-foot complex back to McLaren
By Global Motorsports Media Marc AtkinsGetty Images
McLaren has sold its iconic headquarters, including the Formula 1 factory, for almost $240 million to a New York-based real estate investment company. Dog Eat Dog World
Global Net Lease announced the deal earlier this week, revealing that it will acquire the full 840,000 square-foot Woking, Surry, England complex on a 20-year-triple-net lease. A triple-net lease means the tenant McLaren no longer owns the property but pays for all of the expenses. Why should we have all of our money in real estate? McLaren Racing chief executive and American Zak Brown told Italy s La Gazzetta dello Sport media outlet. We are not a real estate company. We are a racing team and automotive company. There is a lot of money in this building and it s not a productive advantage when we want t
McLaren Sold Its Iconic Woking Headquarters For $237 Million
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NEW YORK, April 20, 2021 /PRNewswire/ Global Net Lease, Inc. (NYSE: GNL) ( GNL or the Company ) announced today
1 that the Company has agreed to acquire a three property office and industrial campus in Woking, Surrey, England that serves as the world headquarters for McLaren s Automotive, Racing, and Applied divisions (the McLaren Group Headquarters ). The contract purchase price for the combined 840,000 square foot campus is £170 million with a 20-year, NNN lease. The transaction is expected to close in the second quarter of 2021. We are excited to announce that this world-class facility will become part of the GNL portfolio, said James Nelson, CEO of GNL The McLaren Group Headquarters state of the art buildings have won numerous awards, were designed by renowned architect Norman Foster, and are the type of mission-critical, net-leased properties that make up the GNL portfolio. We are very pleased to have been able to collaborate
Connecting Income, Inflation, & Real Estate: An Expert Panel with Ritholtz Wealth Management, Raymond James, and Fundamental Income April 14, 2021
Join Fundamental Income as they bring together an expert panel to discuss how income, inflation, and real estate intersect in today’s environment. Real estate is a uniquely positioned play on the economic recovery, a potential inflation hedge, an income generator, and a portfolio diversifier.
In the upcoming webcast,
Connecting Income, Inflation, & Real Estate: An Expert Panel with Ritholtz Wealth Management, Raymond James, and Fundamental Income, Alexi Panagiotakopoulos, Co-Founder, Partner and CIO, Fundamental Income; RJ Milligan, Equity Research Analyst – REITS, Raymond James; Michael Batnick, Director of Research, Ritholtz Wealth Management; and Ben Carson, Director of Institutional Asset Management, Ritholtz Wealth Management, will be discussing a variety of market topics and how real estate plays a part in client portfolio
ETF of the Week: NetLease Corporate Real Estate ETF (NETL)
ETF Trends CEO Tom Lydon discusses the
NetLease Corporate Real Estate ETF (NETL) on this week’s “ETF of the Week” podcast with Chuck Jaffe on the MoneyLife Show.
NETL seeks to track the performance before fees and expenses of the Fundamental Income Net Lease Real Estate Index (NETLXT). NETL seeks to provide investors access to sustainable income with identifiable growth through investments in Net Lease REITs. Net Lease REITs are a segment of the real estate sector that focuses on leasing properties to single tenants under net leases wherein the tenants are responsible for the payment of most, if not all, operating expenses, including property taxes, insurance, and maintenance.
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