Location: Leawood, Kansas
Property Type: Single Tenant Retail
Loan Type: Fixed rate
Loan Term: 25-years
Walgreens – Credit Lease (CTL)
This $3,705,000 loan was originated through an insurance company lender on a fixed rate for a 23-year term which aligned with the remaining primary lease term. The loan was under typical non-recourse terms with the lender not collecting any escrow funds. The funds reimbursed the owner for the cost to construct the building.