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Goldman loan helps Hauppauge Park.


M. Robert Goldman & Company has arranged $6.25 million in permanent financing Permanent financing

Long-term financing using either debt or equity.


permanent financing

The long-term financing that supports a long-term asset.
 for the adjacent properties located at 110 Marcus Boulevard and 35 Arkay Drive in the heart of the Hauppauge Industrial Park. The 10-year loan was placed with IXIS Real Estate Capital.

Originally acquired by The Shalam Group in 2001, the 58,216 s/f property was recently renovated into a multi-office park known as Hauppauge Square. The project recently won approval from the Suffolk County Suffolk County may refer to:
  • One of the following counties in the United States:
  • Suffolk County, New York - central and eastern Long Island - the largest Suffolk County by population and geographic size
 Industrial Development Agency, creating significant tax advantages for the developer and tenants on continued improvements to the property. Hauppauge Square was 75% occupied at closing.

"It is unusual to obtain a securitized securitized

Of, related to, or being debt securities that are secured with assets. For example, mortgage purchase bonds are secured by mortgages that have been purchased with the bond issue's proceeds.
 loan with vacancy greater than 17%," said Jonathan Goldman, executive vice president of MRG MRG Merge
MRG Minority Rights Group International
MRG Mad River Glen (Vermont)
MRG Mouvement des Radicaux de Gauche (French: Left Radical Movement)
MRG Manyetik Rezonans Görüntüleme
. "But we were able to work with the lender to overcome the occupancy threshold and enable the borrower to secure long-term financing Long-term financing

Liabilities repayable in more than one year plus equity.
 earlier than what is customary for office buildings."
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Article Details
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Publication:Real Estate Weekly
Geographic Code:1USA
Date:Jul 20, 2005
Words:153
Previous Article:Triple deal closed in White Plains.(L.J. Melody and Co)(Mark Fisher)(financing for three retail properties )(Brief Article)
Next Article:New PalFi fund seeks opportunity under the radar.(Palisades Financial LLC)
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