Key Takeaways
- • Orion and Secure Properties launched a $200 million net-lease real estate fund, signaling coordinated capital deployment in the single-tenant retail and specialized real estate sector.
- • Orion Properties completed approximately 355,000 square feet of leasing activity in Q1 2026, advancing its multi-year portfolio stabilization strategy that has delivered 2.0 million square feet of leases over the past two years.
- • The company executed strategic property dispositions in Q1 2026, selling two properties for $13.1 million and subsequently selling seven additional properties for $35.6 million post-quarter end, reducing carrying costs of non-core assets.
- • Orion acquired a 75,000 square-foot property in Northbrook, Illinois for $15.0 million during Q1 2026, demonstrating selective accretive acquisition activity alongside portfolio rationalization.
- • Secure Properties' partnership model brings institutional discipline and dynamic capital solutions to net-lease real estate, positioning the fund to capitalize on market dislocations and operational improvement opportunities in the sector.
Summary
Orion Properties Inc. and Secure Properties have launched a $200 million net-lease real estate fund, marking a significant capital commitment to single-tenant retail and specialized use properties across U.S. markets. The fund represents a strategic partnership combining Orion's operational REIT platform with Secure Properties' institutional capital sourcing and dynamic partnership-driven approach to net-lease acquisitions and value creation. Secure Properties was founded to bring differentiated capital solutions and partnership discipline to a market historically dominated by larger, less flexible institutional capital.
The fund launch aligns with Orion's demonstrated execution on portfolio optimization and leasing velocity. In Q1 2026, Orion completed approximately 355,000 square feet of leasing activity, building on a two-year track record of 2.0 million square feet in executed leases. This leasing momentum reflects stabilization progress within the company's diversified portfolio of single-tenant net lease office and specialized use properties. The company simultaneously executed strategic dispositions to reduce non-core carrying costs, selling two properties for $13.1 million during the quarter and seven additional properties for $35.6 million in the post-quarter period. These dispositions complement selective accretive acquisition activity, including the purchase of a 75,000 square-foot property in Northbrook, Illinois for $15.0 million.
Orion's CEO Paul McDowell emphasized the strategic rationale: "We continue to execute on our strategy to stabilize the portfolio through increased leasing activity and the timely disposition of non-core assets in order to drive Core FFO per share growth in 2026 and beyond." The $200 million fund vehicle provides institutional capital scale to pursue acquisitions and operational improvements across the net-lease market while maintaining strategic flexibility. For institutional investors and alternative investment professionals, the fund offers exposure to single-tenant retail and specialized-use assets with embedded leasing upside and portfolio rationalization opportunities, typical characteristics of dislocated net-lease market segments where institutional discipline and operational expertise drive returns above passive market yields.
The fund launch aligns with Orion's demonstrated execution on portfolio optimization and leasing velocity. In Q1 2026, Orion completed approximately 355,000 square feet of leasing activity, building on a two-year track record of 2.0 million square feet in executed leases. This leasing momentum reflects stabilization progress within the company's diversified portfolio of single-tenant net lease office and specialized use properties. The company simultaneously executed strategic dispositions to reduce non-core carrying costs, selling two properties for $13.1 million during the quarter and seven additional properties for $35.6 million in the post-quarter period. These dispositions complement selective accretive acquisition activity, including the purchase of a 75,000 square-foot property in Northbrook, Illinois for $15.0 million.
Orion's CEO Paul McDowell emphasized the strategic rationale: "We continue to execute on our strategy to stabilize the portfolio through increased leasing activity and the timely disposition of non-core assets in order to drive Core FFO per share growth in 2026 and beyond." The $200 million fund vehicle provides institutional capital scale to pursue acquisitions and operational improvements across the net-lease market while maintaining strategic flexibility. For institutional investors and alternative investment professionals, the fund offers exposure to single-tenant retail and specialized-use assets with embedded leasing upside and portfolio rationalization opportunities, typical characteristics of dislocated net-lease market segments where institutional discipline and operational expertise drive returns above passive market yields.
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