Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged a $5.85 million debt acquisition loan for a single-tenant net-leased Walgreens at 20321 Susan Leslie Dr., Ashburn, Virginia. The financing was exclusively arranged by Jared Cassidy, first vice president with MMCC. Dean Zang, Executive Managing Director, and David Crotts, director, in Marcus & Millichap’s Washington D.C. office, executed the transaction on behalf of the seller and secured the buyer.
The permanent loan has an interest rate of 2.55 percent and an LTV of 65 percent with a term of 10 years and an amortization of 20 years. The property has a 25-year triple-net lease in place with more than 11 years remaining on the term. This Walgreen’s is well situated in the area and located in a rapidly growing Loudon County submarket, with a long-term corporate lease and a strong track record of sales. Additionally, there is very limited competition in this submarket.
“Due to Walgreen’s credit strength, we were able to place long-term financing with a very advantageous interest rate for the buyer,” said Cassidy. “The owner also operates other similar single-tenant, net-leases in the Washington, D.C. area, giving confidence in the stability of the asset.”
About Marcus & Millichap Capital Corporation
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales, and consultative and due diligence services. In 2020, MMCC closed 1,943 transactions totaling $7.67 billion.
To learn more, please visit: www.marcusmillichap.com/financing
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