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Nationwide Funds Recent Building Deal for GHP Office Realty

SCARSDALE, NY-GHP Office Realty of Scarsdale announces that its recent building acquisition of Carriage Hill North in Westport, CT has been financed with a $4.95 million loan from Nationwide Insurance.

By John Jordan | Updated on October 16, 2000

SCARSDALE, NY-Officials with GHP Realty in Scarsdale report that it has secured a $4.95 million loan from Nationwide Insurance to fund its recent acquisition of Carriage Hill North, a 35,000 sf office building at 1221 Post Rd. East in Westport, CT. The first mortgage bears an interest rate of 8.17% and has a 25-year amortization schedule and a term of seven years, according to GHP officials.

The Carriage Hill North property is 100% occupied and is located in Westport, which has a low office vacancy rate and now has asking rental rates that are approaching $50 per sf. The lender–Nationwide Insurance–was represented by Holiday, Fenoglio.

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