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Finance
Posted: September 15, 2008
Ghazarian and Douek of iCap arrange $9m sale and $7m in financing
Harout Ghazarian and Zeev Douek, directors at iCap Realty Advisors of N.Y. have arranged both the sale and financing for the Hart St. Medical Center. Ghazarian and Douek advised the seller and purchaser, respectively.
The 53,000 s/f medical-office property traded for $9 million (or an 8.5% capitalization rate).
iCap negotiated a $7 million (78% loan-to-purchase price) acquisition loan for a term of five years for the purchaser.
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