According to Jeannette Boccini, spokesperson forSonnenblick-Goldman, which arranged the sale, a confidentialityagreement stipulates the buyer remain undisclosed. Boccini did saythat the purchaser is "a major savings bank" with "assetsthroughout the US."

The loans were sold as two separate portfolios. One portfolioconsists of three cross-collateralized loans secured by threeoffice buildings located in Livingston, New Jersey. The otherportfolio consists of three cross-collateralized loans secured bythree office buildings located in Trumbull, Connecticut. Total sfon the buildings is roughly 300,000 sf, Boccini says.New YorkCity-based Teachers Insurance, with more than $290 billion inassets under management, is among the world's largest retirementsystems. Real estate investment banking firm Sonnenblick-Goldman,also based here, maintains offices in Hong Kong, Miami, SanFrancisco, Sydney and Tokyo.

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