Holliday Fenoglio arranges $6m for mixed-use NY bldg

Real Estate Weekly, Dec 1, 2004

The New Jersey office of Holliday Fenoglio Fowler, L.P. arranged a $5.65 million refinancing for Piermont Commons, a mixed-use property in Piermont, N.Y.

The property contains 27,000 s/f of retail and 28 multi-family units.

HFF senior managing director Tom Dido worked on behalf of Piermont Commons, LLC, to secure the 10-year, fixed-rate securitized loan through Bear Stearns Commercial Mortgage, a conduit lender.

Piermont Commons is located near the Hudson River in Piermont, south of Interstate 87.

The property was built in 1992 and is 100% occupied.

"Piermont Commons is located on the Hudson River and has always beena success, both as a residential multi-family building and as a retail property. Piermont is a great little community that attracts people who enjoy boating and living near the water," said Didio.

"We were happy to assist the owner in securing this long-term, fixed-rate loan."