James J. Houlihan and Bryan J. Houlihan of Houlihan Parnes Realtors,LLC, have closed the refinancing of three retail properties for $9.275 million.
The first property, a 62,000-square-foot Acme grocery-anchored shopping center which includes a CVS and a Dunkin Donuts located at 77-97 Knollwood Road in Greenburgh, New York, received a loan of approximately $3.45 million. An 18,417-square-foot CVS-anchored center at 717-725 Saw Mill River Road in Ardsley New York, received a loan of $1.725 million. A freestanding 8,576-square-foot Walgreens located at 41-51 West Fordham Road in the Bronx, New York received a loan of $4.1 million. The properties are all owned by long time partners ISJ Management and Houlihan Parnes Realtors.
The three loans, all with a local bank, have a fixed rate of 3.5% with the first 24 months of the five-year term at interest only. The borrower has an option to extend each loan for an additional 5 years. The borrower was represented by John Hogan of Goldberg Weprin Finkel Goldstein, LLP.