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SUBSEQUENT EVENTS
3 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 10 – SUBSEQUENT EVENTS

 

Subsequent to quarter end, on January 28, 2022, we purchased a newly constructed 530,000 square foot industrial building, situated on 53.5 acres, located in the Birmingham, AL MSA. The building is 100% net-leased to Mercedes Benz US International, Inc. for 10 years through November 2031. The property was acquired for a purchase price of $51.7 million. Annual rental revenue over the remaining term of the lease averages $3.3 million.

 

Subsequent to the quarter end, on January 28, 2022 we drew down $60.0 million from our New Term Loan, resulting in $115.0 million being currently available.