Met Life Lends Taylor & Mathis Nearly $26M

ATLANTA-Sugarloaf Partners LLC, sponsored by locally based Taylor & Mathis, has obtained a $25.5-million, 10-year first mortgage loan from MetLife Real Estate Investments for its three-building, 256,000-sf Sugarloaf Corporate Center in suburban Duluth. The buildings are collateral for the loan.

Taylor & Mathis officials couldn’t be reached by GlobeSt.com’s publication deadline to learn what the loan proceeds will be used for at the 62-acre, 85%-occupied master-planned office park in fast-growing Gwinnett County. The mixed-use venture at 2160, 2170 and 2180 Satellite Blvd. is on a prime commercial corner of the Sugarloaf Parkway and Interstate 85.

MetLife representatives declined to tell GlobeSt.com loan details such as the interest rate, loan-to-value factor and the amortization period. However, metro area mortgage bankers and real estate brokers familiar with the Duluth submarket tell GlobeSt.com the mortgage probably has an annual interest rate under 6%.