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4101 Albemarle Street North...

Lincoln Property Secures $22.3M Loan For Cityline At Tenley Purchase
FINANCEDRetail

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:

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

George Mitsanas

Gantry

Broker

$896.8M

vol

16 deals

Broker

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