NEW YORK CITY-A popular mixed-use shopping center anchored by PC Richard, Marshalls and Bally Total Fitness has undergone a multi-million refinancing in the Fordham Heights section of the Bronx. White Plains, NY-based Houlihan Parnes Realtors and Q10 New York Realty Advisors recently closed on a $50 million first mortgage loan secured by Two Fordham Square, a 250,000-square-foot, five-story office/retail building located at 2501 Grand Concourse.

The borrower is a partnership comprised of principal James Houlihan and members of the Jemal Family, headed by Jack and Sam Jemal. The seven-year, non-recourse PAR loan locked in at a 3.94% interest rate for the full term, provided for two years of interest only with amortization based on a 30-year schedule thereafter.

A company spokeswoman declined to disclose the lender to GlobeSt.com, but describes the bank “as New York based” with “an uncanny knowledge” of the Bronx market in a prepared statement.