ALISO VIEJO, Calif., Aug. 16, 2012 – Mark One Capital, a subsidiary of Marcus & Millichap Capital Corporation (MMCC), has arranged $7.1 million in refinancing for a 13,386-square foot Walgreens drugstore built in 2009. Farhan Kabani (top right photo) a director in MMCC’s Dallas office, arranged the loan.
“This was a cash-out refinance, which is difficult to structure in many cases,” says Kabani. “We provided the clients with several debt options that allowed them to choose the loan that worked best and met their requirements.”
“Walgreens are attractive to lenders,” adds Kabani. “They are an investment-grade tenant, and the buildings that they occupy are typically multi-use space that can be converted easily.”
The loan was structured with a 10- year term and amortizes over 30 years with an interest rate of 4.5 percent. The LTV was 75 percent.
Contact:
Stacey Corso
Public Relations Manager
(925) 953-1716
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