CVS Pharmacy is operating under a 25-year base lease term that expires on January 31, 2043, with two 5-year fixed rate renewal options, and eight 5-year FMV renewal options. The absolute net bond lease structure provides for a passive, secure investment with no responsibilities for the Landlord. The asset is structured with fully-amortizing, non-recourse, high-leverage loan at 74.1% LTV, requiring only 25.9% down. The amount of leverage this opportunity provides at 3.9% interest is rare in the current capital markets environment.