The deal on the 185,000 sf office building, arranged by Legg Mason, was financed through its correspondent relationship with Sun Life of Canada for the borrower--SoNo Equities LLC and 1122 Associates. The financing was based on a 10-year term with a 20-year amortization schedule, according to Andrew Larew, vice president of Legg Mason Real Estate Services.
"The culmination of this transaction demonstrates the successful repositioning of this property to the marketplace and LMRES' ability to communicate that fact to a quality institutional lender such as Sun Life of Canada," Larew says.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
