A&G Real Estate Partners, in its capacity as real estate advisor to Rite Aid Corporation, announced plans to market for sale a second tranche of neighborhood pharmacy leases, pending approval by the U.S. Bankruptcy Court for the District of New Jersey.
A&G Real Estate Partners, in its capacity as real estate advisor to Rite Aid Corporation, plans to market 78 Rite Aid and Bartell Drugs neighborhood pharmacy leases for sale, as well as 21 fee-owned properties, pending approval by the U.S. Bankruptcy Court for the District of New Jersey.
Rite Aid Corporation reached an agreement in principle with certain of its senior secured noteholders on the terms of a financial restructuring plan that will allow the company to accelerate its ongoing business transformation.
Rite Aid entered into an amendment to its senior secured credit agreement, which consists of a $2.8 billion senior secured asset-based revolving credit facility and a $350 million first in, last out senior secured term loan. Bank of America will continue to act as administrative agent for the facilities.
Walgreens completed the placement of $5 billion of term loan facilities and a $7.8 billion term loan bridge facility as part of the financing of Walgreens’ acquisition of Rite Aid.