Owners of Norwalk Building Obtain $14-Mil Mortgage

PURCHASE, NY-Officials with Legg Mason Real Estate Services report that it has arranged a $14 million first mortgage loan for the ownership of the SoNo Corporate Center at 50 Washington St., in South Norwalk, CT.

By John Jordan | Updated on December 05, 2000

PURCHASE, NY-The ownership of the SoNo Corporate Center in South Norwalk, CT has obtained $14 million in first mortgage financing, according to officials with Legg Mason Real Estate Services Regional Office in Purchase. The property is located at 50 Washington St.

The deal on the 185,000 sf office building, arranged by Legg Mason, was financed through its correspondent relationship with Sun Life of Canada for the borrower–SoNo Equities LLC and 1122 Associates. The financing was based on a 10-year term with a 20-year amortization schedule, according to Andrew Larew, vice president of Legg Mason Real Estate Services.

“The culmination of this transaction demonstrates the successful repositioning of this property to the marketplace and LMRES’ ability to communicate that fact to a quality institutional lender such as Sun Life of Canada,” Larew says.

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