Graf and Sanella of Houlihan-Parnes secure $29.65 million first mortgage

Ed Graf and Ted Sannella of Houlihan-Parnes Realtors, LLC (H-P) have arranged the first mortgage re-financing of $29.65 million for The Sunny Isle shopping center. The property contains 328,538 s/f, and is located at Rte. 70, Fredriksted. The seven-year non-recourse loan has a floating interest rate of 90 day Libor +3.25% (3.65% at the time of closing) with a 30 year amortization schedule. H-P arranged for a 6.5% cap for the life of the loan. The lender did not charge a commitment fee. On site tenants include: Office Max, Radio Shack, Wendy's, Subway, McDonald's Cingular, Banco Popular, Champs and Sears. Houlihan-Parnes Realtors, LLC is a multi-faceted real estate investment company headquartered in White Plains, N.Y. Founded in 1891, its companies and affiliates are engaged in the acquisition and ownership of all types of commercial real estate investment property in the continental United States. Our mortgage brokerage affiliate, Q10 | New York Realty Advisors, is a member of Q10 Capital, LLC a leading commercial mortgage banking and investment sales company with 26 offices in 20 states nationwide. Houlihan-Parnes and its affiliates specialize in commercial mortgage finance, investment sales, property management, leasing, mortgage servicing and consulting.

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