Tower Plaza

Property Name: Tower Plaza
Location: Norwalk, CT
Property Type: Retail
Transaction Type: Permanent Financing
Loan Amount: $5,100,000
Details: Steve McCulloch of Houlihan Parnes Realtors recently arranged permanent financing for a 25,000 square foot retail center in Norwalk, CT. The loan of $5,100,000 was used to acquire this property on behalf of a regional investor who needed to complete a 1031 exchange. This loan is a 5 year fixed rate mortgage at a rate of 3.86% on a 25 year schedule and was done on a par basis. This Rite Aid anchored center also includes 7 other local businesses. From application to close this loan was completed within 45 days and the lender is New York based commercial bank.
More Info: Steve McCulloch at 914-641-4305 or contact me