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Debt & Equity

Houlihan-Parnes refinances Fordham’s Westchester campus

Houlihan-Parnes has refinanced 400 Westchester Avenue in White Plains.

The deal cames after the company negotiated an early 20-year extension with Fordham University, which has  net leased the property as its Westchester campus since 2008. Fordham extended its lease and committed to staying in Westchester County until 2038.

Christie Houlihan, Bryan Houlihan and Andrea Lofaro of Houlihan-Parnes Realtors and GHP Office Realty arranged the new first mortgage of $13 million on 400 Westchester Avenue on behalf of the ownership group, a joint venture comprised of principals from Houlihan-Parnes/GHP Office Realty and Benerofe Properties. The loan was placed for a period of 20 years and self-liquidating basis at a rate of 4.06 percent.

Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP represented the borrower and the title was ensured by The Great American Title Agency, Inc.

 

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