Continental Realty Corporation Secures $43 Million Refinance From Allianz For Park Plaza Retail Center
550 Governor Ritchie Highway
$43,000,000
$234/SF
Building Size
183,380 SF
Asset Type
Retail
Closing
Sep 30, 2026
About this deal
AI
A refinancing transaction has occurred for a retail asset located at 550 Governor Ritchie Highway in Severna Park, MD. The property spans 183,380 square feet and is situated on 21 acres. The total loan amount secured for this property is $43,000,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $43,000,000
- Asset Size: 183,380 SF
- Property Address: 550 Governor Ritchie Highway
- Market: Severna Park, MD
- Lender: Allianz
- Landlord: J.M. Schapiro - Continental Realty Corporation
- Loan Type: Refinance
The refinancing was managed by Continental Realty Corporation, representing the landlord J.M. Schapiro in this transaction with Allianz providing the financing. This deal reflects the ongoing activity in the retail real estate market in Severna Park, MD.
On the Map
$43,000,000
$234/SF
Retail
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Players
Severna Park 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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93