The deal on the 185,000 sf office building, arranged by LeggMason, was financed through its correspondent relationship with SunLife of Canada for the borrower--SoNo Equities LLC and 1122Associates. The financing was based on a 10-year term with a20-year amortization schedule, according to Andrew Larew, vicepresident of Legg Mason Real Estate Services.
"The culmination of this transaction demonstrates the successfulrepositioning of this property to the marketplace and LMRES'ability to communicate that fact to a quality institutional lendersuch as Sun Life of Canada," Larew says.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
