Project Heart (Acquisition of 5 CVS Properties)

Written By Charlie Zamora

SchoolWise Partners is pleased to acquisition of a real estate portfolio of six (6) leasehold properties operated by CVS Pharmacy and located in several top markets across the United States.

The Buyer, which previously sold its schools earlier in November, redeployed its sale proceeds with the acquisition of these leasehold properties and utilized the 1031 exchange to defer capital gains tax as a result.

These are all new CVS locations, each having opened in 2019 or 2020, and the portfolio offers a weighted average remaining lease term of over 22 years. The portfolio was acquired free and clear of debt. All properties were structured with absolute triple-net bondable leases with no landlord responsibilities.

SchoolWise Partners acted as the Buyer’s exclusive buy-side advisor on the acquisition of the real estate assets.

Key Transaction Highlights

  • Closed on November 18, 2022.

  • Acquired the Real Estate Assets.

  • Acted as exclusive buy-side advisor.

If you are interested in learning more about selling or buying real estate properties, please contact our team at info@schoolwisepartners.com.

Charlie Zamora
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