In the first transaction, a structured finance loan of over $13 million was arranged for 2 Sylvan Drive, Parsippany, a 105,000-sf office building. The financing, based on a 15-year term with approximately 22-year amortization, was arranged for borrower 2 Sylvan Drive LLC through LMRES' relationship with Legg Mason Wood Walker. The property's major tenant is Securitas.
In the second, a $10.5 million mortgage loan was arranged for 50 Chestnut St., Montvale, NJ, an office building with a tenant roster that includes KPMG, BPBDK and Merrill Lynch. The borrower was 50 Chestnut Ridge Association LP. The lender was Allstate, and the loan carries a five-year terms with a 25-year amortization.
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