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Debt & Equity Residential

Houlihan-Parnes’ Graf refinances 600-unit multi-family home portfolio

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.

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