NETSTREIT Corp. Presents Update on Fourth Quarter and Full Calendar year 2020 Organization Actions

DALLAS–(Company WIRE)–Jan 5, 2021–

NETSTREIT Corp. (NYSE: NTST) (the “Company”), a nationwide owner of significant-top quality, single-tenant net lease qualities, now delivered an update on the Company’s fourth quarter and comprehensive yr 2020 company actions.

Fourth Quarter and Whole Year 2020 Business enterprise Update

Working Action:

  • Collected 100.{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} of hire payments for the months of Oct, November and December 2020
  • Maintained portfolio occupancy of 100.{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} as of December 31, 2020

Portfolio Development:

Fourth Quarter 2020 Portfolio Action:

  • For the fourth quarter, the Corporation done $81 million of acquisitions at an initial cash capitalization amount of 6.8{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63}. Acquisitions concluded during the quarter experienced a weighted-regular remaining lease phrase of 8.8 years, with 68.7{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} of the homes occupied by financial investment grade rated tenants and 11.9{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} occupied by tenants with investment grade profiles (unrated tenants with a lot more than $1. billion in annual revenue and a debt to altered EBITDA ratio of fewer than 2.0x)
  • For the fourth quarter, the Corporation finished 12 tendencies for a overall aggregate contractual product sales value of $37 million, which equates to a 6.6{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} funds capitalization fee on occupied qualities

Entire Calendar year 2020 Portfolio Action:

  • For the complete year 2020, the Corporation finished $409 million of acquisitions, of which 71.9{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} ended up occupied by financial investment quality rated tenants and 12.{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} were occupied by tenants with financial commitment grade profiles
  • For the whole yr 2020, the Corporation done $50 million of inclinations

Yr Stop Portfolio Posture:

  • As of December 31, 2020, the NETSTREIT portfolio was comprised of 203 homes, contributing $41.8 million of annualized base hire 1, with a weighted-typical remaining lease time period of 10.5 years, of which 70.{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} had been occupied by investment decision grade rated tenants and 7.4{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} had been occupied by tenants with expenditure grade profiles
  • As a outcome of NETSTREIT’s investment and asset administration routines, the Company’s tenant diversification and tenant danger profile was improved in the course of 2020. The Company’s ABR exposure to its greatest tenant (7-Eleven, Baa1/AA- rated) was 8.9{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} as of December 31, 2020, as in contrast to 11.8{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} for its greatest tenant (CVS Well being, Baa2/BBB rated) as of December 31, 2019.
  • The Company’s publicity to the everyday dining sector was reduced from 4.5{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} to 2.2{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} in excess of the similar time period
  • The Organization proceeds to have no publicity to any theater, health and fitness club or early childhood instruction tenants.

Equilibrium Sheet:

  • Finished the year with no superb balance on the Company’s revolving line of credit history and a money harmony, together with cash in 1031 trade accounts, of $93 million
  • Completed a LIBOR swap to hedge floating level publicity on the total equilibrium of the Company’s $175 million fantastic phrase loan by way of its December 2024 maturity

“After a landmark calendar year in which we completed our 144A non-public giving, established a community organization system, and closed our initial public offering, we are pretty happy with all we have accomplished at NETSTREIT in 2020. Our portfolio functions, such as collections, continue being exceptionally sturdy and replicate the portfolio quality and defensive asset characteristics that are at the core of our tactic. Even further, our efficiency in 2020 on both equally acquisitions and inclinations supplies us with a considerably larger, far more resilient and diversified asset foundation to support outsized development as we get started 2021,” said Mark Manheimer, Chief Executive Officer of NETSTREIT. “We are incredibly proud of our total workforce and could not have attained our results in 2020 with no their really hard get the job done. We believe we enter the new year pretty perfectly positioned to further establish on our accomplishments.”

2021 Outlook

The Enterprise is introducing the adhering to external development targets for entire year 2021:

  • The Enterprise expects net acquisition exercise, inclusive of dispositions, to whole $320 million
  • The Business expects to continue to overview its portfolio and finish opportunistic dispositions to additional improve portfolio diversification and mitigate threat


NETSTREIT is a Serious Estate Financial commitment Trust (REIT) based in Dallas, Texas that specializes in getting one-tenant internet lease retail qualities nationwide. The increasing portfolio is made up of significant-high-quality qualities leased to e-commerce resistant tenants with balanced harmony sheets. Led by a administration group of seasoned business genuine estate executives, NETSTREIT aims to create the maximum top quality net lease retail portfolio in the nation with the aim of creating constant dollars flows and dividends for its investors.

Forward Seeking STATEMENTS

This push release contains forward-searching statements inside the indicating of Portion 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. This kind of forward-on the lookout statements contain, with out limitation, statements about our company and progress methods, expense, financing and leasing routines and tendencies in our enterprise, like developments in the marketplace for single-tenant, retail commercial authentic estate. Words these kinds of as “expects,” “anticipates,” “intends,” “plans,” “likely,” “will,” “believes,” “seeks,” “estimates,” and variations of such text and similar expressions are supposed to recognize this sort of forward-on the lookout statements. These kinds of statements require acknowledged and unidentified hazards, uncertainties and other aspects that may cause our real final results, overall performance or achievements to be materially distinct from the benefits of operations or plans expressed or implied by these ahead-hunting statements. Whilst we believe that the assumptions underlying the ahead-wanting statements contained herein are acceptable, any of the assumptions could be inaccurate, and as a result these kinds of statements integrated in this push release may perhaps not prove to be correct. In mild of the substantial uncertainties inherent in the forward-wanting statements involved herein, the inclusion of such info really should not be regarded as a representation by us or any other human being that the success or situations described in this kind of statements or our goals and options will be reached. For a further more dialogue of these and other variables that could affect potential benefits, efficiency or transactions, see the data beneath the heading “Risk Factors” in our prospectus dated August 13, 2020, relating to our preliminary community supplying, submitted with the Securities and Trade Fee (the “SEC”) on August 14, 2020 and other stories filed with the SEC from time to time. Ahead-looking statements and these kinds of threats, uncertainties and other elements talk only as of the date of this press release. New dangers and uncertainties may possibly come up in excess of time and it is not possible for us to forecast these functions or how they may well affect us. Numerous of the hazards identified herein and in our periodic studies have been and will continue on to be heightened as a consequence of the ongoing and several adverse outcomes arising from the novel coronavirus (COVID-19). We expressly disclaim any obligation or enterprise to update or revise any ahead-hunting assertion contained herein, to reflect any transform in our anticipations with regard thereto, or any other improve in functions, ailments or instances on which any this sort of statement is based, except to the extent in any other case required by legislation.

1 Annualized base lease, or ABR, is calculated by multiplying (i) income rental payments (a) for the month subsequent the interval proven in addition (b) for homes underneath enhancement, the to start with comprehensive month’s lasting money hire contractually due just after the progress time period by (ii) 12.

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Keyword: UNITED STATES NORTH The united states TEXAS

Business Key phrase: Household Creating & Actual ESTATE Building & Home REIT

Supply: NETSTREIT Corp.

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PUB: 01/05/2021 08:15 AM/DISC: 01/05/2021 08:15 AM