RALEIGH, N.C. – Marcus & Millichap Capital Corporation (MMCC) has arranged a $5 million loan to refinance a 14,550-square foot freestanding Walgreens drugstore in Raleigh, N.C.William Craun, an associate director in the firm’s San Francisco office, arranged the loan.
“The borrower was trading 1031 exchange proceeds from an apartment building sale into two triple-net transactions, one in California and one in North Carolina,” says Craun. “Interest rates increased during the month, but MMCC was able to close the transaction in a timely manner.”
The Walgreens loan is for 10 years, amortized over 30 years with a fixed interest rate of 6.253 percent. The LTV is 66.4 percent.
$6 Million Private-Placement CTL Loan Arranged for Walgreens in Medford, OR
MEDFORD, OR – Marcus & Millichap Capital Corporation (MMCC) has arranged a $6,091,000 private-placement, credit-tenant lease loan for the purchase of a Walgreens drugstore in Medford, Ore.
Tim Kinney, a senior director in the firm’s Atlanta office, arranged the loan.
“MMCC’s ability to source financing for single-tenant net-leased assets is well established,” says Kinney. “Improved liquidity among lenders and buyer demand for national single-tenant leased properties is bringing increased momentum to the investment arena.”
The loan is for 24.6 years, amortized over 24.6 years with a fixed interest rate of 6.15 percent. The LTV is 88 percent.
Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation, (925) 953-1716
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