Colonnade's president Joseph S. Sambuco negotiated the transaction for the refinancing. The lender was Bank of America's Global Structured Finance group, represented by principal Peter Scola.

Colonnade's current $2 billion-plus portfolio is comprised of more than 30 properties, including approximately 11 million sf of commercial space, 1,000 hotel rooms, 1,000 apartment units, and 600 acres of development land in multiple markets stretching from Miami to Minneapolis. Colonnade, based here, is an integrated real estate company focused primarily on the development, redevelopment, and rehabilitation of class A and B office and mixed-use properties located in the eastern and central portions of the US. Formed in 1979 as the real estate subsidiary of Lazard Frères, it is now privately owned by the senior officers of the company and Prudential Real Estate Investors.