Brookfield Property REIT Secures $425M Loan For Retail Property In McLean, VA
VERSACE, 2001 International Drive, McLean, VA, USA
$425,000,000
$755/SF
Building Size
562,860 SF
Asset Type
Retail
Closing
Sep 28, 2021
About this deal
AI
2001 International Dr in McLean, VA has recently been involved in a loan transaction. The retail property, owned by Brookfield Property REIT represented by Brian Kingston, secured a loan from Morgan Stanley, Barclays, and Wells Fargo.
Summary of transaction details:
- Property Type: Retail
- Address: 2001 International Dr, McLean, VA
- Market: McLean, VA
- Loan Amount: $425,000,000
- Loan Terms: Five-year, full-term, interest-only
The loan provided by Morgan Stanley, Barclays, and Wells Fargo will support the retail property's financial needs for the next five years. The interest-only loan offers flexibility in managing the property's cash flow. With the involvement of reputable lenders and the support of Brookfield Property REIT represented by Brian Kingston, this loan transaction highlights the confidence in the potential of 2001 International Dr in McLean, VA.
Players
Mc Lean 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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93