$5m construction loan.Spence Hill Associates has arranged construction and permanent financing Permanent financing Long-term financing using either debt or equity. permanent financing The long-term financing that supports a long-term asset. totaling $5 million for Miller Place Commons, a shopping center located in Miller Place, Long Island, 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 . The financing was arranged on behalf of affiliates of Samuel M. Weissman, the principal of SMW SMW Swiss Military Watch SMW Streaming Media World SMW Super Mario World (game) SMW Special Marine Warning SMW Sheet Metal Workers SMW Swiss Medical Weekly SMW Super Mario War (gaming) Property Holdings, and Paul Elliott, the owner of Prudential Long Island Commercial Realty and Soundview Property Management, Inc. The financing was placed with a New York bank. Miller Place Commons is located at the intersection of Route 25A and Pipe Stave Hollow Road in Miller Place, Brookhaven Township, Suffolk County, New York Suffolk County is a county located in the U.S. state of New York. As of the 2000 census, the population was 1,419,369. It was named for the county of Suffolk in England, from which its earliest settlers came. . The property is an existing 19,000 s/f shopping center that is being expanded via construction of an 11,000 s/f, stand-alone CVS (1) (Concurrent Versions System) A version control system for Unix that was initially developed as a series of shell scripts in the mid-1980s. CVS maintains the changes between one source code version and another and stores all the changes in one file. and a 2,000 square foot Suffolk County Bank branch. Completion of construction is scheduled for Summer 2004. In addition, the property features approximately four acres of additional land for future development. Michael H. Trauberman, Managing Director of Spence Hill Associates, negotiated the transaction. |
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