First Oxford Corporation works to expand its portfolio of properties by engaging in purchase/leaseback transactions with operating companies and acquiring additional net leased properties. Since inception, we have completed over One Billion Dollars in acquisitions. First Oxford employs a pattern of leveraging the experience of its management in structuring purchase/leaseback transactions to meet often complex needs of prospective tenants, while providing adequate security to the Company. This strategy allows the Company to obtain a higher yield for a given level of risk than would typically be available by purchasing a property subject to an existing net lease. However, we will also seek to acquire properties subject to existing net leases if we believe the terms are favorable. As additional advantageous investment opportunities present, First Oxford will continue to grow by expanding its portfolio of properties.
The First Oxford generally seeks to negotiate or acquire triple net leases. We also seek to include in all leases:
- clauses providing for periodic rent increases, either automatically or based on an index, such as the All Urban Consumer Price Index
- change of control and restrictive operating covenants
- restrictive financial covenants
- covenants providing that the tenant must indemnify the Company against environmental and other contingent liabilities
- guarantees from parent companies or other parties
- additional security through recourse to other assets or letters of credit, and
- cross-default provisions in leases in multiple property transactions
First Oxford’s primary focus is on the acquisition of single-tenant, triple net leased retail, office and industrial properties. We typically will not acquire hotels, restaurants or land unrelated to a corporate facility or the future operating requirements of a corporate tenant. First Oxford does not intend to develop properties, but we may finance build-to-suit projects with identified tenants when such a project can be done by taking minimal risk of construction completion. We also may permit our tenants, under certain circumstances, to develop or further expand properties leased from the Company.