PCCP LLC Provides $83.9M Senior Loan For Gaithersburg Retail Property
701 Russell Ave, Gaithersburg, Maryland 20877, United States
$83,900,000
Building Size
—
Asset Type
Retail
Closing
Mar 15, 2022
About this deal
AI
The retail property located at 701 Russell Ave in Gaithersburg, MD has recently undergone a significant transaction. The property spans across 102 acres and is owned by WRS Inc. represented by Scott Smith. It is situated in a bustling market, offering great potential for retail businesses.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $83,900,000
- Address: 701 Russell Ave, Gaithersburg, MD
- Market: Gaithersburg, MD
- Acres: 102
PCCP LLC provided a senior loan of $83,900,000 for this transaction. This loan from PCCP LLC will support the further development and growth of the retail property. The involvement of PCCP LLC in financing this project highlights their confidence in its potential success.
On the Map
$83,900,000
Retail
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Players
Gaithersburg 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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93