Rappaport Closes $65 Million Loan to Refinance Worldgate Centre

Herndon, Va. – The Ackman-Ziff Real Estate Group arranged the 10-year non-recourse loan through a CMBS lender on behalf of Rappaport.

Herndon, Va. – Rappaport has closed on a $65 million first mortgage loan to refinance Worldgate Centre, its 230,000-square-foot retail center located in Herndon. Rappaport purchased the asset in 2000. Worldgate Sport & Health anchors the property, and other tenants include a nine-screen AMC Theatre, Starbucks Coffee, TGI Friday’s, Subway, Qdoba Mexican Grill, Cold Stone Creamery and FedEx Kinko’s. The Ackman-Ziff Real Estate Group arranged the 10-year non-recourse loan through a CMBS lender on behalf of Rappaport.

— Scott Reid