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July 24, 2007


photo of Coco Salazar

Commercial mortgages were recently secured for three New York properties and an Illinois multifamily.

A three-story industrial building in Yonkers, N.Y. was acquired through a $1.05 million first mortgage placed by Houlihan Parnes/iCap Realty Advisors LLC, according to an announcement. The loan for the 30,000 square-foot property has a fixed interest rate for the first 5 years of a 10-year term on a 30-yr amortization schedule.

A first mortgage of $4.4 million was issued for the acquisition of a one- and part two-story and basement commercial building, according to Houlihan Parnes/iCap, based in White Plains, N.Y. The interest only loan secured by the Central Park Avenue property was funded by a New York-based savings bank at a floating interest rate at 2 percent above the LIBOR index for a 3-year period.

Evanston, Ill multifamily

New York-based Meridian Capital Group recently arranged nearly $5.0 million in financing for a 78-unit multifamily property in Evanston, Ill. The 10-year loan has a rate of 6.090 percent, according to an announcement.

A 78,000 square-foot office building in New York secured a $29.2 million loan, Meridian said. The loan, which was over 95 percent of the purchase price, has a rate of 7.47 percent over a two-year term.

Coco Salazar is an associate editor and staff writer for MortgageDaily.com.

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