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ROSEVILLE, MN-L.J. Melody & Co., the real estate banking arm of CB Richard Ellis, has arranged a $20.86-million first mortgage for the 359,540-sf office/tech building occupied by Unisys Corp. The property, originally constructed in 1986 for Unisys in this first-tier northern suburb of St. Paul, underwent a multi-million dollar renovation during the summer of 2003.

Stonewater Partners recently closed on the $26 million purchase of the class-B office building at 2470 Highcrest Road. The Mt. Kisco, NY-based real estate investment firm says the building is entirely leased to Unisys for the next eight years.

The Roseville location is strategically important to Unisys and the company has extended its lease for the facility through 2012. Doug Seylar, managing director, and Murray Kornberg, vice president, of L.J. Melody & Co.’s Minneapolis office, secured the 10-year fixed-rate at 5.2% provided by RBS Greenwich Capital.

The building, which was sold by Meritex, was one of three that made up the 1-million sf Highcrest Park. CB Richard Ellis represented Meritex, an 88-year-old firm based in St. Paul that owns and manages more than 10 million sf in the US. CB Richard Ellis is helping lease its other space at Highcrest Park.

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