(To read more on the debt and equity markets and themultifamily market, click here.)
WHITE PLAINS-A joint venture comprised of Houlihan-Parnes/iCapRealty Advisors LLC and CLK Management Corp. closed on $110-millionrefinancing. The portfolio of six multifamily properties totalsnearly 2,500 units. The 10-year loans closed at what companyofficials term "an aggressive interest rate" with a five-yearinterest only period and a 30-year amortization schedule for thenext five years, company officials said.
The properties are located in Baton Rogue, LA; Jacksonville, FL;Overland Park, KS; St. Louis and New Orleans. The firms did notrelease the identity of the lender in the transaction. The NewOrleans property escaped major damage from the Gulf Coasthurricanes of last year and was quickly repaired and brought backto full occupancy, Houlihan-Parnes officials say.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
