Mintz Levin Represents CVS Corporation In Largest Sale Leaseback Transaction In Company's History; Deal Involved 163 properties in 22 states

Business Wire, Dec 22, 2004

BOSTON -- Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. represented CVS Corporation in the sale and leaseback of 163 of the company's properties to affiliates of Staubach Capital Partners of Dallas, Texas. Mintz Levin real estate, environmental and securities lawyers were involved in the transaction, which closed on December 22, 2004.

"The success of such a substantial deal, the largest in the history of CVS sale leaseback transactions, is reflective of the results achieved when the skills and expertise of professionals in several practice areas are integrated," said Andrew R. Urban, Co-Managing Partner of the firm and a partner in Mintz Levin's Real Estate Section.

Mintz Levin represented CVS Corporation in the sale and leaseback to affiliates of the Staubach Company and approximately twelve other purchasers of 163 owned or ground-leased pharmacy properties located in 22 states for an aggregate purchase price of $519 million. The purchase was financed through a 144A securities offering underwritten by Credit Suisse First Boston, ABN AMRO, Morgan Stanley and SunTrust Robinson Humphrey. The firm has represented CVS Corporation in sale leaseback transactions over the last six years involving the sale of over $2.5 billion of real estate.

Real estate attorneys Andrew Urban, Joel Bloom, Susan Carlson, Maryann Civitello, Gabe Schnitzler, Kim Sigler and paraprofessionals Susan Rosa, Nancy Decker and Judi Holoway; environmental attorney Susan Phillips and paraprofessionals Juliet Burley-Mason, Katie Durham and Susan Drennan; securities attorney Mark Chamberlain; and tax attorney Michael Lieberman all played vital roles in bringing the transaction to completion.

Mintz Levin has been representing clients in sophisticated, large-scale real estate development, financial and leasing transactions throughout the United States for over 25 years. Combining professional skills and resources with practical judgment and political acumen to advance its clients' real estate interests, the Real Estate Section takes a multidisciplinary approach that involves attorneys and resources from other practice sections within the firm as necessary, including tax, environmental, telecommunications, health care, biotechnology, business and finance, and corporate securities law.

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC is a multidisciplinary law firm with over 450 attorneys and senior professionals in Boston, Washington D.C., Reston, VA, New York, Stamford, CT, Los Angeles and London.

Mintz Levin is distinguished by its reputation for responsive client service and expertise in the areas of bankruptcy; business and finance; communications; employment; environmental; federal; health care; immigration; intellectual property; litigation; public finance; real estate; tax; and trust and estates. Mintz Levin's international clientele range from privately held start-ups to Fortune 100 companies in a wide array of industries including biotechnology, venture capital, telecommunications, health care and high technology.

Mintz Levin was one of the first law firms to develop complementary consulting capabilities to provide complete solutions to clients' problems, including investment/wealth management, and government and public affairs.

More information is available at www.mintz.com.