Racanelli of Racanelli Realty finances deals totaling $12.8 million

Commack, NY Racanelli Realty Services, Inc. has completed financing transactions valued at $12.8 million. The financing, handled by the company’s commercial real estate financing division, included the following transactions:

• $800,000 on a retail property located at 85 Franklin Ave., Valley Stream, being occupied by a 7-Eleven operator and owned by 85 Franklin Realty.

• $4 million on an office/industrial property located at 780 Park Ave., Huntington being occupied by leading defense contractor, Telephonics, and owned by 780 Park Realty, LLC. 

• $6 million on an industrial property located at 290 Spagnoli Rd. being used by The International Warehouse Group, a storage and transportation company. The property is owned by 290 Spagnoli Realty, LLC.

• $2 million on an industrial property located at 300 Spagnoli Rd., Melville and owned by 300 Spagnoli Realty, LLC.

All of the transactions were negotiated by VP Nicholas Racanelli, who heads up the company’s commercial real estate financing division.

Through its new commercial real estate financing division, Racanelli Realty Services will assist real estate property owners, buyers and investors with loans, including: conventional mortgages at fixed and adjustable rates (ARMs) for primary and investment properties, fixed-rate instruments, bridge loans, construction loans, equity and mezzanine financing, refinancing and 1031 exchanges. Racanelli will work with traditional lenders such as banks and credit unions, as well as insurance companies and other funding sources to provide the most suitably structured loan at favorable terms.