LOS ANGELES--(BUSINESS WIRE)--Matthews Real Estate Investment Services™, the nation’s fastest growing commercial real estate firm, is pleased to announce the sale of a zero cash flow CVS portfolio for $17.8 million. The transaction was led by Bill Pedersen, a Matthews™ senior drug store associate.
Matthews™ exclusively marketed the sale of this zero cash flow CVS portfolio on behalf of the seller, a private client from the Northeast. The client was motivated to sell the properties in order to get into a cash flowing asset.
“The portfolio was encumbered by a second mortgage that prevented the seller from reaping the traditional benefits of a zero cash flow property,” said Pedersen. “The second mortgage structure of this particular portfolio was especially unique, compared to traditional CVS zero cash flow structures.” Through Pedersen’s experience and knowledge of the CVS zero cash flow space, he sourced the buyer, a private real estate group out of New York.
This is the second CVS zero cash flow portfolio that Pedersen has closed in 2018, out of 13 total drug stores closed in 2018. Currently, Pedersen has 10+ active drug store listings. For more information regarding the sale of a zero cash flow property or if you have any questions regarding available drug store inventory, please reach out to Bill Pedersen.
About Matthews Real Estate Investment Services™:
MATTHEWS REAL ESTATE INVESTMENT SERVICES™ is recognized as an industry leader in multifamily, shopping center, net lease, property management, leasing, portfolio disposition and 1031 exchange programs. The firm is headquartered in El Segundo, CA and serves clients throughout the United States and Canada. For more information, please visit WWW.MATTHEWS.COM.