CVS Largest Sale Leaseback
N/AOUTCOME: Deal Successfully Closed
Real estate, environmental and securities lawyers at Mintz, Levin, Cohn, Ferris, Glovsky and Popeo in Boston represented CVS Corp. in the sale and leaseback of 163 of the company's properties to affili ... ates of Staubach Capital Partners of Dallas. The owned or ground-leased pharmacy properties in 22 states sold for an aggregate purchase price of $519 million. The purchase was financed through a 144A securities offering underwritten by Credit Suisse First Boston, ABN AMRO, Morgan Stanley and SunTrust Robinson Humphrey. Mintz Levin has represented CVS in sale leaseback transactions during the last six years involving the sale of more than $2.5 billion of real estate. Real estate attorneys Andrew Urban, Joel Bloom, Susan Carlson, Maryann Civitello, Gabe Schnitzler, Kim Sigler and paraprofessionals Susan Rosa, Nancy Decker and Judi Holoway; environmental attorney Susan Phillips and paraprofessionals Juliet Burley-Mason, Katie Durham and Susan Drennan; securities attorney Mark Chamberlain; and tax attorney Michael Lieberman all played vital roles in bringing the transaction to completion.
