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Quintuplet of Drug Stores Financed

A total of four Walgreens stores and one Rite-Aid property together secure $18 million in funding.

By Rayna Katz | Updated on September 12, 2013

NEW YORK CITY-Cushman & Wakefield announced Thursday that it served as the exclusive advisor in arranging the financing of five drug stores. The lender, Natixis, is providing $18 million in debt financing.

The sale comprises four Walgreens’ located throughout the state of Michigan and one Rite-Aid in New York. The transaction was structured as two staggered closings to allow the borrower to avoid prepayment penalties. The ten-year senior financing is being provided by Natixis, with $10.8 million having closed in August and the remaining funding of $7.2 million having closed earlier this month.

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