TULSA, OK-With plans to sell the trophy office buildings knownas Warren Place I and II, Parmenter Realty Partners hasobtained two CMBS loans totaling $85 million. The new loan,originated by JP Morgan Chase, replaces an existing loan that tiedthe properties together through cross-collateralization, accordingto Parmenter COO Andrew Weiss.

“Our main objective is to sell the project, and the debtstructure we have in place is going to afford us a lot offlexibility to sell the building individually or as a package,”Weiss tells GlobeSt.com, adding that the new loans are assumable.“We believe interest rates are going to rise, and we believe thisloan will be accretive to value because of the interest rate.”

Parmenter has hired Michael McDonald in Eastdil Secured’sAtlanta office to market Warren Place I and II, which total 959,928square feet. Located at the southwest corner of 61st Street andYale Avenue, the buildings have performed well through therecession, Weiss says, pointing out that occupancy has stayed wellabove 90% and rents continued to increase.