HFF has arranged $10 million in financing for 45 Research Way, a 59,294 s/f, class A suburban office and medical office property.
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 Co. of the Southwest.
45 Research Way is located 55miles east of Manhattan within Stony Brook Technology Center, a 103-acre, one million s/f 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," commented Sun.
Founded in 1986, TRITEC Real Estate Company—comprising TRITEC Development Group, LLC, TRITEC Building Company, Inc., TRITEC Asset Management, Inc. and TRITEC Capital, LLC—has established itself as a leader among New York commercial real estate companies, with a decades-long track record of successfully acquiring, developing, constructing, financing, leasing, and managing real estate projects. Tags: