The eight single-story buildings contain a total of just over 514,000 sf on 50.25 acres within the Gateway Business Park. Tenants include Pitney Bowes, Virtua Healthcare, AT&T, Jacobs Engineering, Bell Atlantic, Insurance Office of America and MCI/Worldcom.
"We were able to offer the borrower 85% loan-to-cost and closed on the portfolio in a little more than 30 days," says Motzel, who arranged the transaction through GMACCCM's proprietary lending group. "We have established an excellent working relationship with the borrower and have closed three loans with them in the past six months."
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