Washington DC + DC Metro + Retail | July 1, 2021

JLL Secures $45M Refinancing for Suburban D.C. Retail Center

JLL has secured a $44.5 million loan to refinance The Landing at Woodyard, a recently redeveloped 210,000-square-foot shopping center in the suburban Washington, D.C. community of Clinton, MD.

Located at 8801 Woodyard Rd., the property is currently 95% leased and is home to a tenant roster that includes Aldi, Chick-fil-A, Marshalls, Popeyes, Ross Dress for Less, Burlington and Panera.

Max Herzog, Marko Kazanjian and Daniel McIntyre of JLL secured the financing on behalf of the borrower, Meritus Realty Ventures. The 10-year, fixed-rate CMBS loan was provided by Morgan Stanley Real Estate. Loan proceeds were used to repay the existing bridge loan and fund remaining tenant improvements for the tenants who recently signed new leases. Meritus acquired the center in 2016.

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Meritus Realty VenturesJLL’s Herzog

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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