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Massey Knakal closes loan for Paterson retail property

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Massey Knakal Capital Services, of New York, announced Thursday the closing of a $1.5 cash-out refinance loan collateralized by a retail property in Paterson.

The nonrecourse loan featured a seven-year, fixed-rate loan at 4.25 percent with 30-year amortization and a loan-to-value of 70 percent. The address of the property was not provided.

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