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IBF Hospitality Refinancing Helps Set Up Eventual Retail REIT Launch

Company Secures $149 Million Loan on 24-Store Walgreens Portfolio
IBF Hospitality acquired the Walgreens in Portland, Tennessee, as part of a five-property purchase. (Andrew Nelson/CoStar)
IBF Hospitality acquired the Walgreens in Portland, Tennessee, as part of a five-property purchase. (Andrew Nelson/CoStar)

Raheel Bhai, chairman and CEO of IBF Hospitality, has taken a big step toward creating a net-lease retail real estate investment trust.

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