Houlihan Parnes/iCap Rlty. arranges financing for three retail properties

Ed Graf of Houlihan-Parnes/iCap Realty Advisors, LLC has arranged for first mortgage refinancing for a one-story strip shopping center. The property contains 12,600 s/f of rentable space, and is located at 3408-3418 Boston Post Rd. The non-recourse loan for $2 million is fixed at 6.5% and is for five years with a 30-year amortization schedule. The borrower has a 5-year option. The loan can be prepaid with a declining prepayment premium at a descending rate. Houlihan-Parnes iCap has also placed a $5 million first mortgage on the 12,000 s/f, one-story retail building at 4174 White Plains Rd., Bronx. The 7-year, non-recourse loan is fixed at 6.5% interest, with interest-only payments for three years and a 30-year amortization schedule thereafter. The lender received a 1/2-point fee and allows for a 5-year fixed rate option period. The 13-tenant property consists of the entire blockfront on the east side of the White Plains Rd. between East. 232nd and 233rd Sts. in the Wakefield neighborhood. The loan was arranged by Mike O'Neill, Mike Schwartz and Andrew Hargadon of Houlihan Parnes. Title was arranged by Phil Linz of Stewart Title Insurance and the borrower was represented by JulesLevy, Esq. of Hofheimer Gartlir and Gross, LLP. Also, Graf arranged first mortgage re-financing for a two-story retail building. The property contains 12,500 s/f of rentable space, and is located at 400-422 East Sanford Blvd. in Mount Vernon. The non-recourse loan for $4 million is fixed at 6.375% for five years with a 30-year amortization schedule. The borrower has a 5-year option. The loan can be prepared with a prepayment premium at a descending rate.