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Volume 4 - Number 19 | October 3, 2006
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TOP STORY: Cohen Financial Arranges $152M Walgreens Portfolio Refi
By Michelle Napoli
Locally based Cohen Financial arranged a $152 million refinancing of a large portfolio of Walgreen Co. drugstores, substantially boosting the client's cash flow. Joel Simmons, a partner in Cohen Financial’s Skokie, IL office, says the transaction involved locking in a rate for the new financing as well as locking in a yield maintenance hedge that protected the property owner from a potential increase in the prepayment penalty to the old lender.
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Overseas Beat: S&P Examines De-Linked Single-Tenant Retail in European CMBS
By Michelle Napoli
With several single-tenant retail CMBS deals having closed earlier in the year in Europe for which, unlike in traditional CTLs, none of the securities were linked to the credit of the tenant, Standard & Poor’s recently issued a report examining the structure of these transactions.
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Insider: Goldstein Group’s Chuck Lanyard
By Michelle Napoli
Chuck Lanyard is principal and director of brokerage services for the Goldstein Group, a Glen Rock, NJ-based firm that specializes in retail property services. Lanyard also heads the company’s restaurant division, which in recent months has closed numerous leasing transactions throughout New Jersey with both local restaurant tenants and national chains. NET LEASE forum spoke with him about the restaurant market in his region.
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Datapoints: Net Lease Properties Available
The number of net lease properties available for purchase reached a new high water mark during the third quarter, according to the latest quarterly Net Lease Market Report from Northbrook, IL-based Boulder Net Lease Funds. The company tracked 18,148 available properties with a combined value of $53 billion at mid-August.
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