Legg Mason Real Estate Services/Spectrum Financial arranged the financing, which was provided by Freddie Mac for whom Legg Mason is an approved seller/servicer. In a released statement, Joseph Hegenbert, of Legg Mason/Spectrum, says, "Freddie Mac was able to provide extremely attractive terms which were custom tailored to meet the Borrower's requirements. The Borrower was able to lock in a very advantageous rate utilizing the Freddie Mac Early Rate Lock Program." In New England, Legg Mason/Spectrum Financial has originated and services over $120 million in a total of 40 apartment loans.

Leisure Lane's 241-unit apartment complex is situated on a 6.28-acre parcel of land. The complex is comprised of a mix of studio, one, and two bedroom units located in two mid-rise apartment buildings. The site is located near Routes 95, 128 and 28 and includes 301 spaces. The property is across the street from the 330,000-sf Redstone Shopping Center, which is anchored by a Shaw's Supermarket, Ames Department Store, Marshalls and Bed Bath & Beyond.