Red Pine Capital Partners LLC Acquires Prime Walgreens Location in Denver, Colorado

Dec. 15, 2010 - PRLog -- On November 20, 2010, an affiliate of Red Pine Capital Partners LLC, a New York based real estate and equity investment company, acquired from a private trust a 2 acre Walgreens site located at the corner of South Quebec Street and Route 83 in Denver, Colorado.  The drug store and pharmacy have been operating at the site for approximately 14 years and have approximately ten years remaining on the primary term of the triple net lease.  The acquisition price was approximately $3,500,000 which was financed, in part, with proceeds from a loan by The Bank of Arizona.

"We are pleased to add the Denver Walgreens asset to Red Pine's portfolio of prime real estate operated by strong, credit tenants," said Michael Federman, a principal of Red Pine. "We are also particularly excited about the possibilities presented by our new lending relationship with the Bank of Arizona/Oklahoma," he added.

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About Red Pine Capital Partners LLC:
Red Pine Capital Partners LLC is a boutique equity and real estate investment firm with a focus on investments in middle-market, consumer-related businesses and real estate projects. Red Pine and its affiliated companies seek control positions in businesses where long-term capital appreciation can be achieved through the combination of creative management, new strategies and quality corporate assets as well as opportunistic investments in real estate requiring the repositioning of core real estate assets. Red Pine is a sponsor of tenant-in-common investments, an investment advisor and asset manager for a diverse pool of institutional and individual investors. Red Pine also structures and syndicates special situation bridge loans and interim credit facilities, mezzanine loans and preferred equity financing in connection with real estate assets.