The deal was arranged by Martin Klebanoff, senior vice president and regional manager of Legg Mason Real Estate Services' Northern New Jersey regional office, located in Parsippany. He cooperated on the transaction with Joseph Burke, executive vice president and regional manager, along with Nancy Ferrell, senior vice president, both of LMRES' Washington, DC regional office.

Built back in 1986 in the Route 46 corridor, Fairfield Corporate Center was acquired in 1998 by Corporate Office Properties Trust of Columbia, MD, and was substantially renovated and expanded in 2001. Current key tenants at the property include ADT Security Systems, JPMorgan Chase and Morgan Stanley. Altogether, owner COPT has 10 office properties in the Garden State, with the other nine of them all situated in the Princeton area.

The latest financing was arranged for the borrower by LMRES through its correspondent relationship with Allstate Investment LLC, according to Klebanoff. In this case, LMRES arranged both the debt and equity component of the transaction, with the debt arranged through the firm's Mortgage Banking Group and the equity arranged through its Investment Advisory Group.

Legg Mason Real Estate Servicdes is a wholly owned subsidiary of Legg Mason Inc.