Sale and leaseback syndication

[Evan Loader]

I've been invested in an array of multifamily and MHP private syndications as an LP for 2 years now, a convenient way to invest in real estate passively while I work overseas, leveraging the experience of a reputable sponsor/s. But I am now looking into single tenant sale and leaseback syndication NNN deals as an LP. I like the upside of regular cash flow, substantially lower expenses for upkeep/maintenance/property taxes, and long term triple net leases.

I realize the downside is you are at risk of a single tenant, but am intrigued by the opportunity to balance where my syndication capital is going. I am balanced about 50/50 between Wall Street products and private RE syndicated deals as an LP.

What have your experiences been so far in NNN sale and leaseback deals? Industrial/retail/office, any comments would be appreciated for insight.