NEW YORK CITY-HFF has announced that it has arranged a $10 million financing for 45 Research Way, a 59,294-square foot, Class A suburban office and medical office property in East Setauket, on Long Island.
HFF worked on behalf of the borrower, TRITEC Real Estate Co., to secure the long-term, fixed-rate loan through Sentinel Asset Management, Inc., acting on behalf of Life Insurance Company of the Southwest.
45 Research Way is located 55 miles east of Manhattan within Stony Brook Technology Center, a 103-acre, one million-square-foot master-planned office park. Completed in 1997, the two-story building is 94% leased to a variety of medical and non-medical tenants, and also serves as TRITEC's headquarters. The property features an atrium lobby, 50-person conference room, on-site fitness center and 24-hour access.
The HFF team representing the borrower was led by associate director Michael Gigliotti. TRITEC was led by TRITEC Asset Management's Yvonne Sun.
“Attracting flexible balance sheet financing to 45 Research Way is a testament to the strength of Stony Brook Technology Center as well as the deep commitment that TRITEC has to its headquarters building and the overall business park,” said Gigliotti.
“HFF was very responsive and professional throughout the process and put us in touch with the right lender, Sentinel, for this deal,” says Sun in the announcement.
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.
Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
