562-576 Main Street, Branford, CT

October 2022: Jeremiah A. Houlihan & James K. Coleman of Houlihan-Parnes Properties have arranged acquisition financing with a 1st Mortgage in the amount of $750,000 encumbering the property located at 562-576 Main Street in Branford, CT.  The property is comprised of two adjacent buildings with an 18-car parking lot: (1) a one-story commercial building with three retail stores, and (2) a two-story building with a ground-level Restaurant.

The loan has a 5-yr fixed interest rate for a 15-yr term on a 25-yr amortization schedule, with interest only payments for the initial 5 years.

Purchased by an Investment Group based in White Plains, NY, this acquisition will add to their portfolio of several hundred thousand square feet of mixed-use and residential properties in Connecticut & New York.  This is their second purchase in Branford in the last 2 years.