Updated Dec 4, 2024
LMF Commercial Acquires Retail Property In Lacey, WA For $14M
5400 Martin Way East, Lacey, Washington 98516, United States
$14,000,000
$117/SF
Building Size
119,525 SF
Asset Type
Retail
Closing
Dec 18, 2019
About this deal
AI
The property involved in this transaction is a retail asset located at 5400 Martin Way East in Lacey, WA. It has a total of 119,525 square feet of space. The deal took place on 12/18/2019.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $14,000,000
- Address: 5400 Martin Way East, Lacey, WA
- Market: Lacey, WA
- Lender: LMF Commercial (A Lennar Co.) - Nihad Choudhury
- Landlord: Kai Chang
- Broker: CBRE
- Loan Type: Acquisition loan
- Loan Terms: CMBS: 10 year Term, 30 year amortization
The lender involved in this transaction was LMF Commercial, a subsidiary of Lennar Corporation, represented by Nihad Choudhury. The landlord for this property is Kai Chang. The brokerage firm that played a role in the deal was CBRE.
Players
Lacey 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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93