Limestone, Orion Paid Extra $62 Million To Occupy 14 Walgreens Stores

Limestone Asset Management has done it again, on the heels of its $133 million acquisition of a Walgreens portfolio. 

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.

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