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"Cornerstone bought 42 drug stores in Walgreen's largest ever sale and leaseback... [They] acted as principal in the sale and leaseback by applying private equity from Cornerstone Capital Partners Corporation."
"Cornerstone Capital Corporation financed the deal by underwriting $142,000,000 of debt at 7.13% and privately placing it directly with institutions."
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Walgreen Co.
Rick J. Hans , Director of Finance |
200 Wilmot Road, MS #2261
Deerfield, Illinois 60015-4616
(847) 914-2385 |
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"Creative Leaseback Financing relationship since 1992."
"Formed a Joint Venture to purchase an existing building out of bankruptcy, redevelop the building and lease it back as the corporate headquarters building for FirstMerit Corporation. Funded acquisition and redevelopment through the Floating Rate Note market, which provided FirstMerit with an extreme step down in rent after first eleven years."
"Restructured the Joint Venture into an off-balance sheet Synthetic Lease Financing resulting in creating a non-taxable gain on the partnership restructuring and increasing earnings under the Synthetic Lease Financing."
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FirstMerit Corporation
Gary J. Elek, Chief Financial Officer
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457 Broadway
Lorain, Ohio 44052
(440) 244-7253
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"Creative fixed rate lease structure to fund several auto auction facilities for ADESA Corporation. Underwrote the debt and equity for the leaseback structure."
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Monument Advisors, Inc.
Larry Wechter |
111 Monument Circle, Suite 4500
Indianapolis, IN 46204
(317) 656-5065
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"Cornerstone underwrote a twenty-five year fixed rate loan secured by a bond lease from ConAgra [where the] lease was fixed at a 1.25% spread to UST."
"Cornerstone underwrote the financing at 1.20% spread to UST and closed in July 1999, providing Opus with 100% financing of its cost in the project."
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Opus Corporation
Keith P. Bednarowski , President and Chief Executive Officer |
Opus Corporate Center
10350 Bren Road West
Minnetonka, MN 55343
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"Underwrote a $6,500,000 Draw Note through Cornerstone Funding Corporation utilizing Floating Rate Notes."
"$1,200,000 was initially used to permanently finance Advanced Auto Stores."
"The remaining $5,300,000 will be used to fund other real estate projects."
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The Fergus Companies
John C. Fergus, II , President |
200 E. Campus View Blvd., Suite 200
Columbus, Ohio 43235 |
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"Creative Lease Financing structure"
"Creative funding structure"
"Provided Synthetic Lease Financing for a plastic injection molding facility located in Bowling Green, Ohio, funded through the issuance of Floating Rate Notes by Cornerstone Funding Corporation."
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Owens-Illinois, Inc.
Jeffrey A. Denker , Treasurer |
One SeaGate
Toledo, OH 43666 |
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"Extensive relationship since 1985."
"Can attest to creative structuring expertise, debt underwriting capability and ample equity support."
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Ashrock Capital, LLC
David L. Probst , President |
191 W. Nationawide Blvd.
Columbus, Ohio 43215 |
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"Extensive relationship with Cornerstone and the Board members of Cornerstone."
"Can attest to equity support." |
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Nationwide Insurance
Lawrence A. Hilsheimer , Executive Vice President & Chief Financial Officer
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One Nationwide Plaza
Columbus, Ohio 43215 |
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"Extensive relationship since 1985."
"Can attest to creative structuring expertise, debt underwriting capability and ample equity support."
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Stonehenge Financial Holdings, Inc.
Michael J. Endres , Principal |
191 W. Nationwide Boulevard
Suite 600
Columbus, Ohio 43215 |
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"Underwrote and funded two GSA Lease securitizations totaling over $36,000,000 through Cornerstone Capital Corporation."
"The financing provided 100% of project costs and was funded to cover both construction and permanent capital requirements." |
Harwood & Associates
Damon Harwood , Principal |
11350 Random Hills Rd.
Suite 800
Fairfax, VA 22030
(703) 279-6540 |
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"Cornerstone delivered exactly what was promised... [They] helped secure a letter of credit at an extremely competitive rate and with the bank of our choice." |
Mid-Michigan Physicians, P.C
Ramon Royal, Chief Operating Officer |
2510 Kerry Street, Suite 200
Suite 800
Lansing, MI 48912
(517) 319-1816 |
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"I wanted to thank you for all of your hard work and expertise in providing the $5,100,000.00 letter of credit financing for The Wittmann Company.
Cornerstone Capital's ability to provide floating rate notes at a very attractive rate with no pre-payment penalties was the perfect transaction for our company.
Thank you again for the opportunity to work with you and I look forward to future projects with Cornerstone."
Jeffrey Wittmann
The Wittmann Company
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