March 16, 2010
The Silver Group completes the sale of a Wells Fargo Bank Ground Lease located in Missouri City, Texas

The Silver Group has sold a long term, bank ground lease in the southwest Houston suburb of Missouri City, Texas. The tenant, Wachovia Corp. who was acquired by Wells Fargo & Company, maintains a credit rating of AA. The bank constructed a 4,025 sf bank branch with drive through lanes on 1 acre of land in front of LA Fitness and adjacent to the Riverstone Shopping Center (Target, Kohl's, Palias Royal, Home Depot, Bed Bath & Beyond, Petsmart, Ross, Hobby Lobby, Office Depot) and across the street from Walmart. The investor who was completing a tax deferred exchange, acquired the land under the building for $1,825,000. Ground leases are considered a very secure investment because the tenant has a large capital investment in the improvements. At the expiration of the lease, all improvements will revert to the land owner at no cost.

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