iCap places $5.8 million for Ski Market and Fitness/Tennis Center

According to Gus Costaldo, of Houlihan-Parnes/iCap Realty Advisors LLC, the company has placed a $5.8 million first mortgage interim loan to finance the acquisition of a 7,400 s/f Ski Market store and a 40,140 s/f Fitness and Tennis Center on Westport Ave. The 5 year, floating rate interim loan floats at 135 BP over one month LIBOR and the lender has the option to fund a $400,000 earn out in six months.