Houlihan-Parnes Arranges $19.4M Loan for Refinancing of Multifamily Portfolio in Binghamton, New York

by Taylor Williams

BINGHAMTON, N.Y. — Houlihan-Parnes Realtors LLC has arranged a $19.4 million loan for the refinancing of a 602-unit multifamily portfolio in the Binghamton area. The portfolio consists of 13 properties that range in size from eight to 144 units and include both garden-style suburban communities and urban buildings. The nonrecourse loan was structured with a fixed interest rate of 2.98 percent for five years. The undisclosed borrower intends to use a portion of the proceeds to fund capital improvements. Ed Graf and Ted Sannella led the transaction for Houlihan-Parnes.

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