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October 2019

Gordon & Rees Providence Office Finalizes $22,250,000 Million Sale

Following four months of negotiations, Gordon Rees Scully Mansukhani Partner Richard Bogue and Of Counsel Thomas Moylan negotiated, structured and closed a $22,250,000.00 sale of the assets of a successful multi-state childcare business including the sale of multiple locations in Rhode Island and Massachusetts as like-kind exchanges of the real estate held by seller and related parties.  The Gordon & Rees team represented the selling group in their endeavor to sell their business, locations and other assets to Cadence Education, LLC, a venture capital Delaware Limited Liability Company, and Store Master Funding V, a Delaware limited liability company operating as a REIT.

Included in the sale were assets, operations and related real estate for six locations in Rhode Island and nine locations in Massachusetts, 24 vehicles, assumed contracts and all tangible and intangible assets used in or associated with the business including government funded contracts.

Richard A. Bogue
Thomas J. Moylan