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Debt & Equity

Houlihan mortgages New Roc prop

The Houlihans are keeping it in the family, arranging a $21 million mortgage for 145 Huguenot Street in New Rochelle.

Christie Houlihan, James J. Houlihan and Andrea Lofaro of Houlihan Parnes Realtors arranged the placement of a $21.5 million new first mortgage on the office property owned by its subsidiary, GHP Realty.

GHP purchased the 300,000 s/f office building in 2002. Located at the train station in the center of a designated development area, 145 Huguenot is occupied by a roster of 30 tenants, including the State of New York, County of Westchester, Steiner Sports, Monroe College, Benchmark Education, Advent Software, ENT & Allergy Associates, Greenwich Hospital, and Sound Shore Medical Group.

The loan was placed for a term of 10 years on an interest only basis. Houlihan Parnes said it was able to negotiate at favorable terms due to less than 50 percent LTV.

The owners were represented by Elizabeth Smith of Goldberg, Weprin, Finkel & Goldstein, LLP and the title was insured by Chicago Title Insurance Company.

Since GHP Realty acquired the property, it has sat at around a 95 percent occupancy level.

Partners of Houlihan Parnes are amongst members of the LLC that currently own the property. Last year, related entities also bought 140 Huguenot, which is across the street.

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