CVS: Granite City, IL (St. Louis MSA)

INVESTMENT OVERVIEW(1,2)

INVESTMENT GRADE TENANT
CVS Health Corporation (NYSE: CVS) has been rated BBB/Stable from Standard & Poors and Baa2/Stable from Moody’s. For FY2020, the company reported $268.7 Billion in Total Revenue and $69.7 Billion Net Worth. They are one of the largest pharmacy health providers in the United States, operating more than 9,900 retail drugstores in the United States, Puerto Rico, and Brazil.

ASSUMABLE NON-RECOURSE DEBT WITH ONLY A 16.7% EQUITY REQUIREMENT(2)
This offering allows an investor to acquire the property with just 16.7% cash down and by assuming the existing, non-recourse financing. The subject property is structured as a zero cash flow offering. The rent, including all scheduled increases for the remining 20-years, match the monthly debt service from the existing financing.

FULLY-AMORTIZING DEBT(2)
The debt fully amortizes thereby eliminating any balloon / refinancing risk.

90% RETURN-TO-EQUITY THROUGH AMORTIZATION IN THE FIRST 5-YEARS OF THE LEASE(2)
The offering allows an investor to recapture 90% of their down payment in the first five years, with the entire down payment recaptured in just over five years through amortization (as a percentage of their initial equity investment, before taxes).

23-YEARS REMAINING ON ORIGINAL 25-YEAR ABSOLUTE NNN LEASE
The Property is 100% leased to CVS Health Corporation on an Absolute NNN basis. There are currently more than 23 years remaining on the original 25-year lease term, which expires in January 2045. The lease provides for ten, five-year renewal options following the initial term.

ST. LOUIS METRO LOCATION
The property is located 12 miles north of downtown St. Louis, just across the Mississippi River. The St. Louis metro is home to over 2.8 million
residents and welcomes over 25.9 million visitors annually. Being located near the geographic center of the U.S makes Granite City’s location an
ideal location for businesses and residents. Granite City has access to multiple rail lines, a port district on the Mississippi River, easy access to four
major interstates (going in all directions), and is less than 25 minutes away from Lambert International Airport in St. Louis. The availability of so many
options provide the community with some of the lowest shipping costs in the country.

LOCATIONS AVAILALBE INDIVIDUALLY OR AS PART OF A LARGER PORTFOLIO

(1) Guarantor, Lease Terms, Building Specifications, Total Amortization, and Percentage Amortization to Equity are estimates. Buyer is responsible for verifying during the Due Diligence process.
(2) Warning-This is a projection model only and in no way guarantees the performance of the subject property. Buyer will need to rely on their internal projections only in determining the suitability of this investment.

IRS Circular 230 Disclosure: Marcus & Millichap and its affiliates do not provide tax advice and nothing contained herein including, without limitation, the provision of the following preliminary cost segregation estimate, should be construed to be tax advice. Please be advised that any discussion of U.S. tax matters contained herein (including any attachments) (I) is not intended or written to be used, and cannot be used, by the recipient of any Information for the purpose of avoiding U.S. tax-related penalties; and (II) was written to support the promotion or marketing of the transaction or other matters addressed herein. Accordingly, any recipient of this marketing brochure should seek advice based on your particular circumstances from an independent tax advisor.

Listing agent: Phil Sambazis
Phone: 858-373-3174
Email: psambazis@mmreis.com

IL Broker of Record: Steven Weinstock
Lic #: 471.011175