Creative Dealmaking Seals Walgreens Deal
 Capital Pacific just closed a 14,820 SF Walgreens property located in an established middle class suburb of Cincinnati, OH. The seller was a long-time Capital Pacific client who was set on achieving a cap rate that was aggressive for today’s market. They buyer (also represented by Capital Pacific) was a West Coast based couple who sought an investment opportunity that would provide for their family in the future. They viewed the newly constructed Cincinnati Walgreens as an attractive alternative to similar properties on the West Coast. But there was one challenge: the group had $2.5M in equity. With some creativity, Capital Pacific agents negotiated for them to carry a note with the seller, who was able to achieve cap rate expectations. The property was sold for $5,857,000. This is once just one more successful execution of a proven strategy for Capital Pacific: accessing the “invisible” West Coast investor and connecting them with high-quality investment opportunities in markets across the US. |