Houlihan of Houlihan-Parnes/iCap orchestrates $1.875m first mortgage

Jerry Houlihan of Houlihan-Parnes/iCap Realty Advisors, LLC has arranged first mortgage financing in the amount of $1.875 million for the acquisition of a brick walkup apartment building. The building contains apartments and retail stores with gross rents in excess of $500,000. The loan was placed with a Long Island based savings bank at a floating interest rate of prime plus 1.25% payable interest only for 3 years. The borrowers, Milio Realty Corp., a property investment and management company based in Yonkers, N.Y. have holdings of 600 apartments in the tri-state area. Houlihan-Parnes/iCap Realty Advisors, LLC is a nationally affiliated, multi-faceted real estate investment company headquartered in White Plains, N.Y. 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. Its various companies and affiliates specialize in commercial mortgage finance, investment sales, property management, leasing and mortgage servicing. For more information, please contact James J. Houlihan at (914) 694-6070, ext. 324 or by e-mail at: [email protected].