The Patriot Center project, which has been more than four years in the making, was threatened by the credit crunch, notes Tingus, who is part of a Lee & Associates marketing team for the project that includes Grant Fulkerson and Scott Linklater. While the loan package would be notable even during positive economic times, the fact that these loans were completed in the current financial climate "is a testament to the strength of this development," Tingus comments.
 Patriot Office Building |
Ossola & Associates anticipates delivery of the new space beginning in the fourth quarter of this year and continuing through the second quarter of 2009. As part of the transaction, the ownership of the overall project has been restructured, with M.W. Ossola & Associates now retaining full control of the 20-acre development. Holliday, Fenoglio Fowler acted as mortgage broker on the transaction.
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