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MERCED, CALIF. — Envoy Net Lease Partners has closed on a $4.5 million ground lease acquisition and development loan for a CVS/pharmacy property in Merced.
Envoy financed 100 percent of the total cost of the project, allowing the undisclosed developer to retain full control and ownership of the property.
The 2.2-acre site is located on Olive Avenue near highways 59 and 99.