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Posted: August 29, 2008
Savanna obtains $157.7m C-note secured by 1.4m s/f office bldg. portfolio
Savanna acquired the $157.7 million C-note on the senior mortgage of a 1.4 million s/f class A office portfolio. Savanna purchased the note at a discount to par value from a N.Y.C. investment bank that was motivated to move the assets off of its balance sheet. The note is secured by three class A office buildings: 1000 and 1100 Wilson Blvd. and 1101 Wilson Blvd. The office portfolio is owned by Monday Properties.
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