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October 3, 2006

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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