Coleman of Houlihan-Parnes arranges $1.5 million in acquisition financing

Jim Coleman of Houlihan-Parnes Realtors, LLC has arranged acquisition financing of $1.5 million for the purchase of 2075 Haviland Ave. in the Tremont section. The property is a five-story walk-up apartment building containing 27 apartments and four stores. The loan has a flexible nine-year term which gives the new owner's the ability to make needed upgrades and improvements to the property with a liberal prepayment privilege. The property was purchased to reposition the asset based on existing vacancy. The loan was made by a local New York commercial bank. Anthony Simari, of Smith, Buss & Jacobs, represented the borrower.