REBusinessOnline

NAI Legacy, Restoration Hardware Complete $25.5M Sale-Leaseback Transaction in Edina, Minnesota

EDINA, MINN. — NAI Legacy has acquired the RH | Minneapolis – Gallery property in Edina for $25.5 million. In conjunction with the sale, Restoration Hardware leased back the property on a 20-year absolute net lease. Opened in September 2019, the store spans 58,000 square feet across three levels. A rooftop restaurant is housed on the third floor. A Delaware statutory trust controlled by NAI Legacy, and known as 6801 France DST, was used to acquire the asset. Edina-based Tradition Capital Bank provided mortgage financing. A Delaware statutory trust is an ownership model through a separate legal entity that allows co-investment among sponsors and investors.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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