Dave Rabinowitz and James Coleman of Houlihan Parnes/iCap Realty Advisors recently placed private financing on a 153 acre resort and RV campground known as Strawberry Park.
The property includes 3 outdoor swimming pools, whirlpools and wading pools, a 20,000 s/f two story recreational building with a food service operation, game room, and restrooms with hot showers. Other amenities include a large enclosed amphitheater, shuffleboard, bocce ball, basketball and volleyball courts, two regulation soccer fields, one regulation softball field, a horseback riding facility and petting zoo.
The property is located only a short distance to both Mohegan Sun and Foxwoods Casinos.
The mortgage placed was $2.5 million. The loan called for a fixed rate of interest for 1 year with interest only payments for the entire term of the loan.
The loans were placed privately with a group of investors brought together by HP Capital, LLC, a subsidiary of Houlihan-Parnes. The borrower was referred to the lender by Jeanne Cronin of iCap Realty Advisors, NYC office.