My 1031 exchange client is interested in purchasing a brand new gym (real estate only) in West Palm Beach, FL. Brand new construction, 20-year lease with a top operator, absolute NNN lease. They need $6.6M in financing, <50% LTV. Cap rate will be in the 6.65-6.70% range, so looking for any accretive options, preferably non-recourse. Thanks!
Apr 18, 2025