Jerry Houlihan of Houlihan-Parnes Realtors, LLC has arranged a first mortgage of $550,000 on an 18-unit 3-story apartment building. The property was fire damaged and rebuilt to code by the owner.
The owner had negotiated the purchase of the loan from the former lender at a discount.
Houlihan-Parnes' private mortgage division provided a bridge loan for 18 months to facilitate the purchase.