Houlihan of Houlihan-Parnes refinances $2.5 million for A&P center; First mortgage, 10-year loan placed with a N.Y.-based bank

Jerry Houlihan of Houlihan-Parnes Realtors, LLC has completed the $2.5 million refinancing of a first mortgage on a 60,000 s/f A&P anchored shopping center built in 1996 with extensive frontage on Rte. 82. The property is ¼ mile from the Taconic Pwy. and close proximity to several high-end residential developments. There is on-site parking for 323 cars and there is parking in the rear for service vehicles, trucks and the smaller retail tenants. The A&P contains 75% of the total leasable area (45,000 s/f) and has a lease expiring in November 2016 with 40 years of options thereafter (8/5-year options). There is an approved existing pad on the southeast end of the parking lot for a 3,500 s/f building. The loan was placed with a N.Y.-based bank for a 10-year term. The bank charged a ¾% commitment fee. Houlihan-Parnes Realtors, LLC is a multi-faceted real estate investment company headquartered in White Plains. 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, mortgage servicing and consulting.