Business Services Industry
Houlihan-Parnes Realtors, LLC
Real Estate Weekly, March 15, 2000
Richard Hendey of Houlihan-Parnes Realtors, LLC has arranged the sale and financing of two commercial buildings in Connecticut. Hendey represented the buyer in the acquisition of a single tenant medical office building located on West Street in Danbury and a 16,000 square foot CVS-anchored shopping center located in New Milford, CT.
Both properties were sold for a combined price of $3.425 million. In addition to representing the buyer, Hendey placed the acquisition financing with a local bank. The acquisition loan was fixed at an interest rate of 7.8 percent for five years. The amortization schedule was 20 years and both properties were cross collateralized. The bank charged .75 percent fee and the loan had no prepayment penalty.
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