M. Robert Goldman & Co. arranged the transactions which MRG officials say enable Rechler Equity to secure "unusually long-term financing at rates that would be considered at historic lows in the post-War period." Jonathan Goldman, an EVP at Jericho-based MRG, organized and placed all of the financing with Principal Global Investors, on behalf of Principal Life Insurance Co. for its general account.
The first transaction, referred to as Pool B #1, was a blanket $18.1-million mortgage on six properties in Melville and Hauppauge. The Melville properties are located at 5 and 10 Hub Dr. and 70 Maxess Rd./45 Melville Park Rd,. all situated in the Route 110 corridor. The Hauppauge properties are located at 325 Rabro Dr., 250 Kennedy Dr. and 135 Ricefield Lane, in the Hauppauge Industrial Park, which has more than 14 million sf in 300 buildings occupied by more than 700 businesses.
The second transaction, Pool B #2, was a blanket just under $21-million mortgage on six properties also located in the Melville and Hauppauge industrial submarkets. The four properties in Hauppauge are located at 390 Motor Parkway, 85 Nicon Court, 125 Ricefield Lane and 110 Plant Ave. The two Melville properties are at 265 Spagnoli Rd. and 65 Marcus Dr.
The final transaction, Pool B #3 totaled out at $17.6 million and includes five additional properties. Two are located in Melville at 30 Hub Dr. and 20 Melville Park Rd. Two Hauppauge properties are located at 425 Rabro Dr. and 71 Hoffman Lane. A fifth building is 100 Andrews Rd. in Hicksville.
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