New Mountain Capital, LLC is making a big investment in its net leasing strategy, as the firm has poured $400 million into 43 properties and seven total transactions.
The real estate assets are located in 23 states. While the exact regions are unclear, the properties host a range of tenants in various industries including food products, healthcare, human safety, transportation, aerospace, power management solutions, as well as chemical and industrial storage.
The median lease term for each property is roughly 17 years, according to New Mountain.
Since the New York-based firm’s establishment of its net lease segment in 2016, it has made 64 net lease purchases, amounting to $2.9 billion.
Teddy Kaplan, managing director and head of New Mountain Net Lease, said that last year was a successful one for the company, and it is hoping to continue the momentum this year.
“By focusing on defensive growth sectors where we have deep expertise across our investment strategies, we believe we are well positioned to continue to identify and pursue the best opportunities in the asset class in 2025 and beyond,” he added.
As of today, New Mountain hosts 62 tenants through 297 properties in its 29 million square foot portfolio.
In 2025, Tyler Swann, managing director of investments at W. P. Carey recently noted that net lease investors could be eyeing international markets like Mexico for opportunities. Plus, buyers are exploring new property types amid the threat of tariffs and in the still elevated interest rate world.
That comes as net lease cap rates have risen across most asset classes amid a supply surge, according to B+E’s January cap rate report. Dollar Stores and grocers saw spikes of up to 23 and 19 basis points, respectively, since the third quarter. Others like QSR only saw small increases, while convenience stores remained unchanged.
