Ed Graf and Ted Sannella of Houlihan-Parnes Realtors, LLC have 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.

The par, non-recourse loan, in the amount of $13,800,000, is fixed at 5.0% for 5 years with a 30 year amortization schedule. The borrower has a 5 year option. The loan can be prepaid with a prepayment premium at a descending rate. The borrower was represented in the transaction by Steven Tierney of Woods, Oviatt, Gilman L.P.P.

Houlihan-Parnes Realty Advisors, LLC is a nationally affiliated, multi-faceted real estate investment company headquartered in White Plains, New York. 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. Its various companies and affiliates specialize in commercial mortgage finance, investment sales, property management, leasing and mortgage servicing. For more information, please contact James J. Houlihan at 914-694-6070, ext. 324 or by e-mail at: jjh@houlihanparnes.com