The Metairie Centre office building in the New Orleans suburb of Metairie secured a $7.2-million loan. The 89,100-sf structure is 95% leased. Bank of America provided the financing for property owners, Edenborne Partners of Commendam, LA. Geoffrey Rice in L.J. Melody's New York office arranged the funding for this transaction.
In Westlake, Ohio, the King James Office Park II secured $4 million in a first mortgage financed through a correspondent lender of L.J. Melody. Last year, the 63,747-sf office building underwent an extensive renovation last year. The building is part of King James Park, a six-building office park with more than 400,000 sf in a suburb of Cleveland. Keith Huizinga and John Clifford of L.J. Melody's Chicago office structured the package.
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