Donald E. Morgan, III And Jonathan Duskin Secure $455.7M Loan From Wells Fargo For Retail Portfolio
$455,700,000
$64/SF
Building Size
7,100,000 SF
Asset Type
Retail
Closing
Sep 23, 2026
About this deal
AI
The transaction involves a refinancing loan secured by Family Dollar for a portfolio consisting of leased distribution centers. The loan amount is $455,700,000, arranged as a floating-rate refinancing for an extensive asset totaling 7,100,000 square feet located within several markets including Utah, New York, Oklahoma, Indiana, Iowa, Virginia, Kentucky, and Florida.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $455,700,000
- Lender: Wells Fargo
- Loan Type: Refinance
- Loan Terms: floating-rate
- Landlords: Donald E. Morgan, III - Brigade Capital Management; Jonathan Duskin - Macellum Capital Management
- Brokers: Christopher Peck, Christopher Pratt & Alex Staikos - JLL
Notably, the financing aids Family Dollar in enhancing its operational capabilities after its acquisition in 2025 by Brigade Capital Management and Macellum Capital Management from Dollar Tree. The loan was facilitated through JLL Capital Markets, involving key brokers in the arrangement.
Players
Market 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
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93