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L.A. Firm Completes $77.5M Pep Boys Portfolio Deal

Purchase-Leaseback Includes 22 Retail Properties
By Jeannie Reamer
September 24, 2008 | 5:00 AM

Corporate Partners Capital Group Inc., a Los Angeles-based company that specializes in structuring purchase-leaseback transactions with corporations, acquired 22 properties in various locations across the United States from The Pep Boys Manny Moe & Jack of California and Wachovia Development Corp. The aggregate purchase price was $77.5 million, or approximately $177.50 per square foot, and had an estimated cap rate of 7.5%.

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