Morris and Stewart of Cronheim complete $103.511m note purchase

Cronheim Mortgage completed a $103.511 million note purchase for three corporate offices in Las Vegas, Nev., Memphis, Tenn. and Columbus, Ind. Dev Morris and Andrew Stewart completed the acquisition of a single loan collateralized by the three single-tenant net leased properties occupied by NV Energy, FedEx, and Cummins, Inc. The loan was acquired in a pari-passu partnership by Cronheim's correspondent investors for which they will act as the servicer. The seller was KeyBank National Association, who originated the debt in 2007 for affiliated entities of Lexington Realty Trust as borrower.