Germantown Commons
A retail property in Germantown, Maryland. Securitized in 1 CMBS deal in 2024.
$69.9MAppraised value (latest deal)
95.4%Occupancy
$5.4MUnderwritten NOI
7.8%Implied cap rate
- Address
- 12922-13060 Middlebrook Road, Germantown, MD 20874
- Property type
- Retail · Anchored
- Year built
- 1990
- Size
- 200,726 SF
- Sponsor
- Gary D. Rappaport
- Loan purpose
- Acquisition
- Largest tenant
- Giant
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BANK 2024-BNK48 | 2024-10-01 | $69.9M | 95.4% | $5.4M | 7.8% | $49.0M | 70.1% | 1.79x | 424B |
Historical NOI reported in BANK 2024-BNK48
| Period ending | NOI |
|---|---|
| 6/30/2024 | $4.2M |
| 12/31/2023 | $4.0M |
| 12/31/2022 | $3.9M |
More CMBS properties in Maryland →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.