Friday, December 4, 2009

Marcus & Millichap Capital Corp. Arranges $7.3M Loan for Georgia Walgreens

RIVERDALE, Ga., Dec. 4, 2009 – Marcus & Millichap Capital Corporation (MMCC) has arranged a $7.3 million loan for the acquisition of a 14,820-square foot Walgreens drugstore in Riverdale.

Tim Kinney, senior director in the firm’s Atlanta office, arranged the financing for the retail property.

“We were able to take advantage of the high leverage and long-term fixed rates available in the credit-tenant lease, private placement market,” says Kinney. “It was a great team effort.”

The nonrecourse loan has a 25-year fixed rate with a 25-year amortization, a loan-to-value of 92 percent and a 6.9 percent interest rate.

Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation, (925) 953-1716

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