Location: Albuquerque, NM
Property Type: Apartment/Multi-Family
Transaction Type: First Mortgage
Loan Amount: $4,000,000
Details: Ed Graf of Houlihan-Parnes Realtors, LLC has arranged a $4,000,000 first mortgage on the Medical Arts Plaza located at 801 Encino Place NE, Albuquerque, NM. The Center, currently 92% occupied, consists of 7 buildings totaling 51,735 sf with 17 tenants, and is conveniently located near the intersection of I-25 and I-40, just minutes from three major hospital facilities.
The non-recourse, par loan is fixed at 4.27% for five years with a 25-year amortization schedule. The borrower elected to pay an additional 20 basis points in rate for the right to prepay with a 2% premium in Year One, 1% in Year Two, and without penalty thereafter.
More Info: Ed Graf at 914-694-6070 or