Triple-Net

(redirected from Triple Net)
Also found in: Acronyms.

Triple-Net

A lease in which the tenant is responsible for costs in addition to rent. The tenant is responsible for net property taxes, net insurance, and net maintenance for the duration of the lease, which is the origin of the name. Because the tenant is responsible for costs that the lessor would otherwise pay, rent on a triple-net lease is usually lower than on other leases.
References in periodicals archive ?
Triple Net Properties, LLC is a wholly owned indirect subsidiary of Grubb & Ellis Company, a leading real estate services and investment management firm.
The facility will be leased under a 20-year triple net lease followed by two, ten-year renewal options.
Even during the credit crunch of recent years, Acredit triple nets have always been financeable and able to be leveraged at higher loan-to-value ratios than most other real estate investments.
Triple Net Properties purchased Ashley Overlook from Holder Properties, which was represented by Hank Hall from Colliers Spectrum Cauble.
The MOU provides that the 37 LTC owned properties will be rolled into two triple net master leases, each such triple net master lease will have an initial term of ten years with certain renewal options.
Triple Net Properties purchased Darien Business Center from SMII Oak Creek/LP, L.
In addition, the company seeks to operate as a full service provider of real-estate services, ranging from its core long-term triple net lease product to mortgages, through its relationship with Bank of America, to merger and acquisition (M&A) advice for tenants and investment property sales.
26 /PRNewswire/ -- Triple Net Properties, LLC has hired Michael Van Dusen to serve as senior vice president.
Triple Net Properties, a diversified real estate enterprise, acquired Santa Fe Springs Town Center from Layton Belling and Associates and AEW, and 4 Hutton from SP4 Hutton, LLC/CBREI on behalf of each of the co-ownership groups of TIC investors.
Concurrent with this transaction, Triple Net Properties has acquired the Tupper Building, also located on the Tufts-New England Medical Center campus, on behalf of tenant-in-common investors.
Advisor LLC acquired Siena Apartment Homes from Studemont 600 Partners Limited (a Texas corporation), Triple Net Properties LLC acquired Mission Spring Creek from Hall Financial, and Evergreen Development acquired Fulton Avenue Commons from Jefferson Commons (a Minneapolis limited partnership), each on behalf of the each of respective co-ownership group of TIC investors.
Concurrent with this transaction, Triple Net Properties has acquired the Biewend Building, also located on the Tufts-New England Medical Center campus, on behalf of tenant-in-common investors.

Full browser ?