Martin Klebanoff, senior vice president and regional manager ofthe Parsippany, NJ regional office of Baltimore, MD-based LeggMason, Inc., arranged the package for owner PMW Partnership LLC.The funding came from an unnamed major life insurance company. LeggMason is a holding company whose subsidiaries are involved insecurities brokerage, investment advisory, investment banking,commercial mortgage banking and other financial services.

"This is the second time in three years that we have financedthis property," according to Klebanoff. "Originally financed as aparticipating mortgage when it was 40% leased, the participatinglender has now been paid off with a significant return, and thisnew financing has reduced the monthly debt service by about$100,000."

PMW Partnership recently finished a complete renovation ofMorris Business Campus. The makeover project involved adding atwo-story atrium, a new parking lot with a circular drive, plussuch amenities as a health club and cafeteria.