Monday, March 28, 2011
The HFF team representing the borrower was led by senior managing director Riaz Cassum and director Greg LaBine (middle right photo).
“The combination of credit quality, prime location and strong sponsorship made this an attractive loan opportunity for PNC Bank,” said Cassum. ”The borrower was pleased with the professional execution on the part of PNC Bank.”
50 and 60 Sylvan Road are located within the 54-acre Reservoir Woods East Campus (top left photo) adjacent to the Cambridge Reservoir, and close to Route 128/Interstate 95, Route 2 and The Massachusetts State Turnpike in Waltham.
The properties include a two-story office/R&D building with 137,928 square feet, plus a 63,000-square-foot, Class A office building completed in December 2010. Both buildings are fully leased to Verizon Laboratories. The tenant has access to a full-service cafeteria, an internal conference center and an on-site credit union.
Davis Marcus Partners is a venture between The Davis Companies and Marcus Partners. Its affiliates own and operate a portfolio of real estate in excess of four million square feet valued at more than $1.0 billion.
Prudential Real Estate Investors is the real estate investment management business of Prudential Financial (NYSE: PRU).
Riaz A. Cassum, HFF Senior Managing Director, (617) 338-0990 email@example.com
Gregory F. Labine, HFF Director, (617) 338-0990, firstname.lastname@example.org
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,