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CMC Closes $5M Walgreens Loan

HOWELL, NJ-'Life companies continue to return to market seeking to finance low leverage stabilized assets in the nation's top five metro markets,' says the firm's Mark Scott.

By Alyson Grala | Updated on September 07, 2010

HOWELL, NJ-Mark Scott of Commercial Mortgage Capital has closed a seven-year permanent loan on a Walgreens leased property here. The borrowers were seeking a low fixed-rate loan on the newly constructed Walgreens. According to Scott,the client was very sensitive to rate and desired a flexible term on a fixed rate loan.  The deal was negotiated with one three-year extension option with a regional bank. 

Scott tells GlobeSt.com that life company financing is plentiful for quality assets. “Life companies continue to return to market seeking to finance low leverage stabilized assets in the nation’s top five national metro markets, which certainly includes New York and New Jersey.”

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