Joint Venture Arranges $45 Million Loan for Center

Woodmere, N.Y. — Five Towns Shopping Center includes 500,000 square feet of retail.

Woodmere, N.Y. — Houlihan-Parnes Realtors LLC and Q10 New York Realty Advisors LLC have arranged a $45 million first mortgage on the Five Towns Shopping Center in Woodmere. The interest-only, 10-year loan includes a fixed rate of 3.4 percent. A national lender provided the nonrecourse financing. The 500,000-square-foot center is located about 15 miles east of Brooklyn. Tenants at the retail property include Lowe’s Home Center, K-Mart, T.J. Maxx, Conway, The Children’s Place, T-Mobile and Applebee’s, as well as a new Walmart Marketplace and Modell’s. Jim Houlihan, Mike O’Neill and Bryan Houlihan of Houlihan-Parnes placed the loan. Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP represented the borrower in the transaction.

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