$9.2-Mil Mortgage Is Set for Flex Property

ALLENDALE, NJ-LMRES package arranged for Allendale Associates's 107,774-sf building is the second one put together by the broker with lender Aetna, and the same borrower, in the same business park in the past year.

By Eric Peterson | February 12, 2001 at 01:01 AM

LMRES arranged the package for the borrower, Allendale Associates LLC, through its correspondent relationship with Aetna Life Insurance Co. The financing was based on a 10-year term with a 25-year amortization.

According to Klebanoff, "this is the second deal within one year that we have completed with Aetna, with the same borrower in the same park. Aetna considers this to be the top flex building park in the state."

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