Lincoln Property Secures $22.3M Loan For Cityline At Tenley Purchase
4101 Albemarle Street Northwest
$22,300,000
$250/SF
Building Size
89,000 SF
Asset Type
Retail
Closing
Jun 25, 2024
AI
The Cityline at Tenley retail center, located at 4101 Albemarle Street Northwest in Washington, D.C., with a size of 89,000 square feet, was acquired by Lincoln Property Company with the assistance of a $22.3 million loan facilitated by Gantry.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $22,300,000
- Market: Washington, DC
- Brokers: Austin Ridge, Braden Turnbull & George Mitsanas - Gantry
Gantry played a crucial role in securing the $22.3 million loan for Lincoln Property Company to complete the purchase of the Cityline at Tenley retail center in Washington, D.C. The brokers involved in the deal were Austin Ridge, Braden Turnbull, and George Mitsanas from Gantry.
Players
Washington Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93