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Brokerage
Posted: August 25, 2008
Monte of Rose Hill Group arranges $7.75m permanent financing for 150,000 s/f building
According to Daniel Monte, president of The Rose Hill Group of WNY LTD (RHG), the company has arranged $7.75 million in permanent financing for a fully-occupied three-story office building located on 3920 Main St. Monte arranged the financing through a correspondent life insurance company.
The 150,000 s/f building was built in the 1950s and originally served as a department store. KeyBank has been the primary tenant since 1992 and recently agreed to a new 10-year lease.
A.C.G. Main-Eggert Associates owns the plaza and is part of The Benchmark Group. The Benchmark Group is a real estate management and development company, with a total portfolio valued at close to $900 million, including 7,500 apartment units in 12 states and 5 million s/f of retail space in six states.
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