Carlton Seeking Lenders for DC Metro Area Credit Tenant Financing
August 6, 2010
Carlton Advisory Services, Inc. (“Carlton”), as exclusive advisor to a highly successful real estate investment firm (the “Borrower”), is seeking interest from qualified lenders to provide a ten-year, senior financing at 75 to 80 percent loan to cost with the lowest possible interest rate for a 14,800 SF Walgreen’s Drugstore built in 2008 located in Culpepper VA approx 45 miles southwest of Washington DC (“Property”).
The property has an incredible location along US-BUS Route 15/29 which is the primary retail corridor in the area. The subject is located across the street from Lowe’s with other retailers in a close proximity including: Target, Wal-Mart super center, JC Penny, Kohl’s, Staples, Petsmart, Food Lion and much more.
The borrower is purchasing the property for $6,308,725 on a 7.45% cap rate. Walgreen’s is paying $470,000 annually through October 2033. Walgreen’s is S&P rated “A” and operates 7,100 stores throughout the US with annual revenues of $63.33BB.
If interested, please contact the undersigned for additional details, including the OM. We look forward to your proposal.
Sincerely,
| John Ward
Managing Director (212) 716-5627 |
