$33m K-Mart deal.Jack Houlihan of Houlihan-Parnes/iCap Realty Advisors, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control has arranged a $33 million first mortgage on a 450,000 s/f K-Mart anchored shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into in Woodmere, New York Woodmere is a hamlet (and census-designated place) in Nassau County, New York, United States. United States. The population was 16,447 at the 2000 census. Woodmere is one of the Long Island community known as the Five Towns, which is usually said to be comprised of the . The property is located at 253-00 Rockaway Boulevard. The interest rate was fixed at 4.5% interest only for the first 5 years of a 10 year term. The interest rate will adjust at the end of year five at 1.5% over the then applicable 5 year Treasury Constant Maturity. This non-recourse loan includes a flexible prepayment schedule. This first mortgage is also assumable and the Lender required no reserves. The Five Towns Shopping Center also features tenants including: Modells, Payless, TJ Maxx, Sizes Unlimited, Nathans, Pizza Hut, Applebees, Michaels Stores and the Gap amongst others and has been owned by Woodqueens LLC for close to 20 years. The loan was arranged with a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of based savings bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. . The Borrower was represented by Andrew Albstein of Goldberg, Weprin & Ustin. Council for the Lender was Bob Liner of Stark, Amarin. Title was insured by Chicago Title |
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