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North Carolina
Bond Net Leased Properties Property #pnnns 17:21:55
Bond Net Leased Properties Tenant:
CVS Pharmacy
Credit Rating: S&P "A"
State Located: North Carolina
Lease Term: 22-Year Primary Lease term.
Lease Type: NNN - ABSOLUTE TRIPLE NET with
NO Landlord responsibilities to the buyer. Tenant is responsible for ALL expenses, including
property taxes, maintenance, repairs, all insurance, roof and structure, and all other costs.
Rent Commencement Date: July, 2001
Price: $2,615,290. Only
$280,210 in cash is required to purchase this property!
Financing Obligations:
Loan is Non-Recourse.
Current Loan Balance: $2,335,080 (est.)
Annual Cash Flow: $0
Remarks:
Can be purchased all cash (subject to refinancing) or as premium over the .
This is a "Bond-Net" lease.
CVS Operates over 4,100 stores in the Northeast and Mid-Atlantic portions of the U.S. For the
year ending December 2000, CVS reported sales of $20.1 billion. CVS is publically traded on the
NYSE (CVS) and has an S&P rating of "A". With the recent acquistion of Revco and Arbor Drugs, CVS
is the #2 drugstore chain in the U.S. in total sales and #1 in store count and prescriptions
filled.
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