Recent Transactions
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Property Name: Office Building
Location: Omaha, NE Property Type: Office Transaction Type: Permanent Financing Loan Amount: $83,000,000 |
Details: Permanent financing was arranged on this 316,481 square foot office building in Omaha, Nebraska through a correspondent lender.
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Property Name: Five Towns Shopping Center
Location: Woodmere, NY Property Type: Retail Transaction Type: First Mortgage Loan Amount: $45,000,000 |
Details: Houlihan-Parnes Realtors, LLC and Q10 New York Realty Advisors, LLC are pleased to announce the placement of an investment-grade $45,000,000 first mortgage on the Five Towns Shopping Center located at 253-01 Rockaway Boulevard, Woodmere, New York. The interest-only loan is fixed at a 3.425% rate for the full ten year term. The non-recourse financing was done at par with a National Lender. The 500,000 s.f. Center is located in the Five Towns area of Nassau County, just east of JFK International Airport. The Center has 19 tenants that include Lowe’s Home Center, K-Mart, TJMaxx, Conway, The Children’s Place, T-Mobile, and Applebee’s, as well as the new addition of a Walmart Marketplace and Modell’s. The loan was placed by Jim Houlihan, Mike O’Neill, and Bryan Houlihan of Houlihan-Parnes and the Borrower was represented in the transaction by Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP.
Houlihan-Parnes Realtors, LLC is a multi-faceted real estate investment company headquartered in White Plains, N.Y. Founded in 1891, its companies and affiliates are engaged in the acquisition and ownership of all types of commercial real estate investment property in the continental United States. Our mortgage brokerage affiliate, Q10 | New York Realty Advisors, is a member of Q10 Capital, LLC a leading commercial mortgage banking and investment sales company with 26 offices in 20 states nationwide.
Houlihan-Parnes and its affiliates specialize in commercial mortgage finance, investment sales, property management, leasing, mortgage servicing and consulting. For more information, please contact James J. Houlihan at (914) 694-6070, ext. 324 or by e-mail at: jjh@houlihanparnes.com.
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Property Name: 15777 Quorum
Location: Addison, TX Property Type: Apartment/Multi-Family Transaction Type: Refinance Loan Amount: $39,000,000 |
Details: Q10| iCap Realty Advisors secured non-recourse permanent financing for this class A 414-unit apartment complex located in Addison, TX, a submarket just north of Dallas, TX. The source was a correspondent life insurance company.
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Property Name: Jackson Square Parking Lot
Location: New Orleans, LA Property Type: Parking Lot Surfaces Transaction Type: Refinance Loan Amount: $32,500,000 |
Details: Q10| iCap Realty Advisors secured non-recourse permanent financing for this 740-space parking lot located in New Orleans, LA, located at the nexus of the CBD and the French Quarter. The source was a correspondent life insurance company.
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Property Name: NE Philadelphia Industrial Portfolio
Location: Northeast Philadelphia, PA Property Type: Industrial/Warehouse Transaction Type: First Mortgage Loan Amount: $29,000,000 |
Details: White Plains, NY – Jeanne Cronin, Managing Director of Q10 | New York Realty Advisors is pleased to announce the closing of a first mortgage loan in the amount of $29,000,000 secured by a 14-building industrial portfolio located in Northeast Philadelphia, PA. The non-recourse loan was written for a 10-year term based on a 30-year amortization schedule. The interest rate was fixed at 4.22% for the term of the loan. The loan was a par loan.
The properties are owned, managed and leased by a prominent Philadelphia area family who has been in the real estate business for several decades and has amassed a substantial real estate portfolio over that period. They are savvy buyers with a focus on underperforming properties with significant upside potential. That strategy has worked extremely well and today their portfolio is a well-balanced mix of multi-tenanted and single tenant buildings ranging in size from 25,000 sf to >1 million sf.
As per Cronin, “the lender went above and beyond in addressing the Borrower’s needs. There were several unexpected issues that cropped up during the due diligence and closing process that the lender handled in a highly professional and pro-active way so that all parties’ interests were addressed and resolved to everyone’s satisfaction.”
Jeanne Cronin of Q10NY together with Larry Linksman of Bridge Funding originated and placed the loan.
Q10 | New York Realty Advisors, LLC is a member of Q10 Capital, LLC a leading commercial mortgage banking and investment sales company with 24 offices nationwide. Q10NY has the resources and expertise to successfully provide debt and equity solutions to all types of real estate transactions regardless of property type, size, location and complexity. Our clients are given access to a wide variety of lending sources and a full range of financing products through our established relationships with local and national lending sources. Our affiliation with Houlihan-Parnes Realtor, a multi-dimensional privately owned real estate company founded in 1891 provides a level of professionalism and expertise unmatched in the market. For more information please contact Jeanne Cronin of Q10 | New York Realty Advisors at 914-641-4383 or visit our website at www.q10capital.com or www.houlihanparnes.com
