Ed Graf of Houlihan-Parnes Realtors LLC, has arranged for 1st mortgage re-financing for a multi-family portfolio, consisting of 602 apartments. The 13 properties are located in Binghamton, NY and the nearby cities of Endicott, Endwell and Johnson City.

The par, non-recourse loan, in the amount of $16,700,000, is fixed at 3.61% for 5 years with a 30 year amortization schedule. 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.