Morgan Stanley Provides $65M Loan For Acquisition Of Office Portfolio In Glen Allen & Richmond, VA

The property involved in this transaction is an office asset located at 4121 Cox Rd, 4198 Cox Rd, 4510 Cox Rd, 4801 Cox Rd, 4880 Cox Rd, 5000 Cox Rd, and 5500 Cox Rd in Glen Allen, as well as 200 Westgate Pkwy, 3900 Westerre Pkwy, 3901 Westerre Pkwy, and 7130 Glen Forest Dr in Richmond, Virginia. The total square footage of the property is 723,103 square feet.

Summary of transation details

• Property Type: Office
• Transaction Amount: $65,000,000
• Location: Glen Allen and Richmond, VA
• Lender: Morgan Stanley
• Landlord: Tim Slagle
• Brokers: Michael Wyne, Ira Zlotowitz, Timothy Wylie, and Josh Rosalimsky from GPARENCY
• Loan Type: Acquisition
• Loan Terms: 5-year term, Interest only, 6.69%

Michael Wyne, Ira Zlotowitz, Timothy Wylie, and Josh Rosalimsky from GPARENCY represented the buyer in this transaction. The loan was provided by Morgan Stanley with a loan amount of $65,000,000. The loan terms include a 5-year term, interest only, and an interest rate of 6.69%. It is notable that the client only paid $11,000 in mortgage brokerage fees as a member of GPARENCY.