Mary McDonald of L.J. Melody tells GlobeSt.com that the building underwent extensive renovation last year. The project contains offices, high-end retail space and a gallery of American paintings.
"The lender structured a deal that really fit in a rapidly changing market place," said McDonald. "We had a lot of changes in the market between November (when the application process began) and now, and a lot of things changed in that time period. Bear Stearns really demonstrated willingness to structure changes."
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