(To read more on the debt and equity markets, click here.)
KNOXVILLE, TN-Pellissippi South, LLC has received a $20.3-million for One Lakeside Centre and Three Lakeside Centre. The financing will be used to pay down existing debt, according to Prudential Mortgage Capital Co.
Michael Doran of Prudential's Atlanta office originated the loan. The deal carries a 10-year term and amortizes over a 30-year period.
One Lakeside Centre is a two-story, 62,250-sf asset that was built in 2002. Three Lakeside Centre is a three-story, 99,464-sf asset that was built in 2004. The properties' combined 161,714 sf is 99% occupied.
According to GlobeSt.com research, the office properties were built by Merit Construction, Inc. One Lakeside Centre was designed by Byrd & Cooper. Three Lakeside Centre was designed by Johnson Architecture and was the second asset built at the Lakeside Centre complex. The complex is in close proximity to Interstates 40, 75 and 81.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
