Herrick Co. Pays $190M for 44 CVS Leased Properties
BOCA RATON, FL—Affiliates of locally-based real estate investment firm The Herrick Company Inc. has acquired 44 retail properties net leased to CVS Caremark in 18 states from private equity firm Fortress Investment Group LLC for a purchase price of approximately $190 million.
NEW YORK CITY—Bearing the American Finance Trust name, the merged entity is a retail-focused REIT with an enterprise value of approximately $3.9 billion.
BOISE, ID—The new hire brings more than 35 years’ experience in commercial real estate finance to the middle-market loan provider.
NEWPORT BEACH, CA—A “forest for the trees” mentality, in addition to seeking yield for investors, is causing firms based in other markets to expand to the West Coast, creating more demand for talent in a tight market, RETS’ Kent Elliott tells GlobeSt.com.
Middle Market Digest
Here’s a look at this week's trends, announcements and deals that you may have missed in the country’s North West region.