Marcus & Millichap Capital Corp. Arranges $5 Million Walgreens Refinance

Walgreens, Quincy, IL

QUINCY, IL – Marcus & Millichap Capital Corporation (MMCC) has arranged a $5 million refinance for a 14,820-square foot Walgreens in Quincy, Ill.

Steven Goldwyn

            Steven Goldwyn, an associate director in the Fort Lauderdale office, arranged the loan.

            “Daniel Greenberg, a senior associate with Marcus & Millichap Real Estate Investment Services, reached out on behalf of the client. The borrower wanted to retire the seller carryback debt from when they closed the property’s acquisition at the end of 2012,” says Goldwyn.

Daniel Greenberg

“Seeking options, we offered both the longest fixed-rate loan available in the marketplace in the form of a self-liquidating credit tenant lease, and a non-recourse bank loan at 4.5 percent for 10 years on a 30-year amortization schedule. The borrower opted for self-liquidating,” Goldwyn says.

            The 24-year loan amortizes over 24 years at a fixed rate of 5.1 percent.  The loan-to-value is 51 percent.

  

 For a complete copy of the company’s news release, please contact:

Gina Relva,

Public Relations Manager

Marcus & Millichap Capital Corporation

(925) 953-1716