Location: Mahwah, NJ
Property Type: Office
Transaction Type: First Mortgage
Loan Amount: $16,500,000
Details: The Mahwah Business Park is a 400,000 square foot facility that is a combination of office and warehouse space. The largest tenant is Extra Space Storage, a self storage center. The center also provides warehouse facilities to Accupac and Paulist Press. The 80,000 of office space is divided into small spaces with none over 4,200 square feet. The 5-year, non-recourse loan has a fixed rate of 3.99% with a 25 year amortization schedule. The loan is prepayable with a swap breakage feature that only results in a significant prepayment penalty if interest rates are lower than on the day the loan was originated.
The borrower was represented by Robert Tiburzi of Houlihan-Parnes Realtors, LLC. Goldberg Weprin Finkel Goldstein, LLP was borrower’s counsel. All New York Title Agency, INC. provided the title services.
Houlihan-Parnes Realtors, LLC is a multi-faceted real estate investment company headquartered in White Plains, N.Y. Founded in 1891, 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. Our mortgage brokerage affiliate, Q10 | New York Realty Advisors, is a member of Q10 Capital, LLC a leading commercial mortgage banking and investment sales company with 26 offices in 20 states nationwide.
Houlihan-Parnes and its affiliates specialize in commercial mortgage finance, investment sales, property management, leasing, mortgage servicing and consulting. For more information, please contact James J. Houlihan at (914) 694-6070, ext. 324 or by e-mail at: email@example.com.
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