In a joint investment with Miami-based Orion Real Estate Group, the company acquired 14 additional Walgreens locations for $62.2 million.
The deal brings the total portfolio to 41 stores for just under $200 million. Wells Fargo provided financing for the deal.
Just 19 days earlier, Limestone and Orion closed on a 27-store portfolio. The new, 14-store acquisition is the latest in a series of a recent purchases made by Miami-based Limestone, including deals in Pinecrest, Sarasota, and Orlando, Florida.
Limestone is an affiliate of Orion Real Estate Group, a company headed by Ibrahim Al-Rashid, the son of Saudi billionaire Dr. Nasser Ibrahim Al-Rashid.
According to Orion’s website, the younger Al-Rashid founded Limestone in a joint venture with Orion in 2010 and now holds assets surpassing $200 million over the United States.