602 Garden Apartments: Binghamton, Endicott, Endwell, and Johnson City

October, 2017- Ed Graf of Houlihan-Parnes Realtors, LLC, has arranged for 1st mortgage re-financing for a multi-family portfolio, consisting of 602 apartments.  The package consists of 13 locations: Binghamton, Endicott, Endwell and Johnson City in upstate New York.

The par, non-recourse loan, in the amount of $17,500,000, is fixed at 3.99% for 5 years with a 30 year amortization schedule.  The loan has a 5 year option and a descending pre-payment penalty. The borrower was represented in the transaction by Steven Tierney of Woods, Oviatt, Gilman L.P.P.