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SCARSDALE, NY-Officials with GHP Realty in Scarsdale report that it has secured a $4.95 million loan from Nationwide Insurance to fund its recent acquisition of Carriage Hill North, a 35,000 sf office building at 1221 Post Rd. East in Westport, CT. The first mortgage bears an interest rate of 8.17% and has a 25-year amortization schedule and a term of seven years, according to GHP officials.

The Carriage Hill North property is 100% occupied and is located in Westport, which has a low office vacancy rate and now has asking rental rates that are approaching $50 per sf. The lender–Nationwide Insurance–was represented by Holiday, Fenoglio.

GHP Realty, formed in 1999, recently announced the purchase of the Carriage Hill North property, its sixth deal since its inception. The firm now has a presence in Westchester and Rockland counties in New York, Fairfield County, Cty., and in Northern New Jersey. Officials with the firm estimate that the company will own and manage more than 750,000 sf of space by year’s end.

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