March 2022

Recently Sold – CVS Pharmacy, Zapata, TX

Exterior view of a CVS Pharmacy store in Zapata, TX at dusk, featuring a brightly lit entrance and prominent red CVS logos on the building.

Thomas Company is pleased to announce the recent sale of a CVS Pharmacy located in Zapata, Texas. The asset was structured with long-term fixed-rate CTL financing. The transaction underscores the market’s ongoing demand for zero-cash-flow product. The buyer was attracted to the flexible nature of the investment structure to fulfill their specific exchange constraints and the easily assumable financing.

Key Highlights

  • ZERO-CASH-FLOW STRUCTURE: Long-term, easily assumable, fixed-rate CTL financing.
  • MANAGEMENT-FREE OWNERSHIP: The Tenant has executed a 25-year bondable net lease (NNNN) with no Landlord responsibilities whatsoever. The Tenant is responsible for all management and maintenance of the asset.
  • PASSIVE LOSSES: The property provides the owner with significant passive losses (depreciation and interest expense) to help offset unsheltered cash flow from other real estate investments.