Ed Graf of Houlihan-Parnes Realtors arranged for first mortgage re-financing for a 602-unit multi-family portfolio.
The package consists of 13 locations in Binghamton, Endicott, Endwell and Johnson City, NY.
The par, non-recourse loan, in the amount of $17.5 million, is fixed at 3.99 percent for five years with a 30-year amortization schedule. The loan has a five-year option and a descending pre-payment penalty.
The borrower was represented in the transaction by Steven Tierney of Woods, Oviatt, Gilman LPP.
