As part of the deal, HFF also secured a seven-year, fixed-rateloan to finance one of the four buildings; 10-year, fixed-rateloans for two of the other buildings; and a six-year, fixed-ratepackage for the fourth asset. The funding was arranged through JohnHancock Life Insurance Co. and GMAC, according to Didio.

"The Burroughs portfolio transaction was a highly structuredsale and financing that was consummated through the joint effortsof the New York City institutional sales group and HFF's New Jerseyoffice," Didio explains. "We were pleased to work with asophisticated seller who was willing to allow us to restructure theportfolio's debt to achieve the highest possible sales value forthe portfolio."

Of the four suburban office properties, which are all 100%leased to a tenant mix dominated by professional and financialservices firms, three are located in this Bergen County community.For one, Paramus Plaza I is a three-story, 64,208-sf asset situatedon five acres along Route 17, a major commercial corridor in theregion. Paramus Plaza II, meanwhile, totals just over 49,000 sf on3.4 acres adjacent to Paramus Plaza I. And Paramus Plaza IV is athree-story, 70,235-sf building on 3.7 acres across from the GardenState Plaza Mall. The fourth property is the 43,000-sf PreaknessPlaza, a three-story building that sits on just under six acres afew miles to the west in Wayne, NJ.

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