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Brokerage
Posted: September 13, 2010
Stewart, Morris and McMahon of Cronheim finance $3.6 million
Andrew Stewart, Dev Morris, and Lisa McMahon have arranged permanent financing of $3.6 million for a free-standing, 14,490 s/f Walgreen's. The loan has a 10-year term amortized over 25 years and was placed with one of Cronheim's life insurance company correspondents, for which Cronheim will act as servicing agent.
The tenant is operating under a 75-year absolute net-lease, although the tenant is able to terminate at any time after the 25th year upon giving 12 months notice.
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