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Lincoln Property Secures $22.3M Loan For Cityline At Tenley Purchase
FINANCED
$22,300,000
Retail89,000 SF
Financed 06/25/2024
FINANCED
Lincoln Property Secures $22.3M Loan For Cityline At Tenley Purchase
4101 Albemarle Street Northwest
See Similar DealsRetail89,000 SF
Financed 06/25/2024
Summary
Asset Type:Retail
Price Per Square Foot:$250
Total Square Footage:89,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$22,300,000.00
Monthly NOI$148,666.67
Monthly Debt Service$140,951.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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