Stirling Properties Affiliate Sells Walgreens Portfolio to a Pasadena Firm

Fishman Haygood client, Stirling SST Con1, L.L.C. (an affiliate of Stirling Properties, L.L.C.), sold a portfolio of Walgreens stores to ExchangeRight, a real estate firm in Pasadena, California.  The sale involved the defeasance of a commercial mortgage-backed securitized loan held by U.S. Bank National Association, and the replacement of the mortgage collateral with government-backed securities.  The sale closed on August 14, 2019.

Steven Serio and Carson Haddow were Stirling’s counsel for the transaction.