PALM BEACH, FL—The dust hasn’t quite settled onFlagler’s move to sell off 33 of its industrialassets to AEW Capital Management for $340 million.People are still talking about the inner workings of the deal,including the financing piece.

Attorney Daniel Kaskel, a partner withSachs Sax Caplan, served as Florida counsel toMassachusetts Mutual Life Insurance Company, whichfinanced AEW Capital’s purchase of Flagler Station. The dealincluded the assignment of a $72.1 million existing mortgage, alongwith a new $85 million Mass Mutual credit facility.

Although Sachs Sax Caplan was engaged long after Mass Mutual wasin place as the lender, Kaskel tells GlobeSt.com that the overallcredit facility would have narrowed the field of potential lenders.As he sees it, the deal is an indication that lenders are returningto the playing field. Significant financings like the FlaglerStation deal, he says, add confidence to the markets, establishpricing and benchmarks, and facilitate other transactions.