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1.18.2008
Capital Pacific Starts Off 2008 with Closings
 Capital Pacific started off 2008 by closing four triple net properties spread throughout the western United States:
1. Joe’s: Albany, OR
- Capital Pacific overcame multiple challenges and closed within 2% of the initial asking price.
- Negotiated with the tenant to waive its right of first refusal for one year to facilitate the transaction.
- In the midst of the turmoil in the debt market, Capital Pacific elected to pursue an all cash buyer out of Hawaii.
2. Office Depot: Roseburg, OR
- Property was encumbered by a loan with a 40% LTV that had to be assumed.
- Capital Pacific sourced a buyer with approximately $4M in equity.
3. Popeye’s: Phoenix, AZ.
- Capital Pacific assisted both the buyer and seller as they worked through property related issues including:
- Mechanic liens
- Modifications to the CC&R’s
- Right of first refusal
- Closed within 2.4% of the initial asking price.
- Escrow closed promptly in 29 days
4. Checker Auto Parts: Midvale/Syracuse, UT.
- Capital Pacific represented a 1031 exchange investor sourced out of Utah.
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