X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ROCHELLE PARK, NJ–GHP Office Realty, based in White Plains, NY, has received an $8 million first mortgage loan for 218 Route 17, a 91,000-sf office building in this Bergen County community. GHP acquired the five-story facility, which is the corporate headquarters of Sanyo North America Corp. and has 11 other tenants, in September of last year.

The loan was placed by Houlihan-Parnes/iCap Realty Advisors, also based in White Plains, NY. The interest rate of 7.09% is fixed for a seven-year term with a 30-year amortization schedule. The non-recourse loan, place at par, represents 65% of the asset’s appraised vale and allows for prepayment after the fifth anniversary with a 1% penalty. The source of the funding was not disclosed.

GHP Office Realty, meanwhile, has grown its portfolio to more than 1.5 million sf of office and warehouse space in a period of just over two years.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.