During the second quarter of 2025, four sale leaseback transactions above $100 million closed, totaling $761 million, according to SLB Capital Advisors.
The largest deal was Nissan to North Haven Net REIT, a non-traded net-lease REIT sponsored by Morgan Stanley Investment Management, for $343 million, covering four industrial properties on April 3. These properties are in Riverside, Calif., Aurora, Ill., Somerset, N.J., and Irving, Texas, with Nissan entering a 12-year lease.
The other transactions included:
Premium Brands, which sold a 350,000-square-foot, food-processing facility near Chattanooga, Tenn., to W. P. Carey for $166 million. The triple-net lease deal has a 25-year term, with fixed annual rent increases. The facility is powered by renewable energy.
Life Time to Realty Income for $150 million on June 20. The company said the retail deal covered three properties and coincided with an S&P credit upgrade.
