{"id":1004494660,"date":"2020-11-20T08:54:22","date_gmt":"2020-11-20T16:54:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004494660"},"modified":"2020-11-20T08:54:22","modified_gmt":"2020-11-20T16:54:22","slug":"longfellow-lands-53m-loan-for-north-carolina-life-science-conversion","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/longfellow-lands-53m-loan-for-north-carolina-life-science-conversion\/","title":{"rendered":"Longfellow Lands $53M Loan for North Carolina Life Science Conversion"},"content":{"rendered":"<div id=\"attachment_1004494675\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/Perimeters-Edge.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004494675\" data-attachment-id=\"1004494675\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/longfellow-lands-53m-loan-for-north-carolina-life-science-conversion\/perimeters-edge\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/Perimeters-Edge.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Perimeter&#8217;s Edge\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Perimeter&#8217;s Edge. Image via Google Street View&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/Perimeters-Edge.jpg?w=800\" class=\"size-medium wp-image-1004494675\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/Perimeters-Edge.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/Perimeters-Edge.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/Perimeters-Edge.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/Perimeters-Edge.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004494675\" class=\"wp-caption-text\">Perimeter&#8217;s Edge. <em>Image via Google Street View<\/em><\/p><\/div>\n<p>Longfellow Real Estate Partners has received a $52.76 million loan for the acquisition and repositioning of Perimeter\u2019s Edge, a flex\/office portfolio comprising 341,547 square feet across four buildings in Morrisville, N.C. JLL arranged the five-year, floating-rate financing provided by MetLife Investment. The new owner plans to <a href=\"https:\/\/www.commercialsearch.com\/news\/repositioning-commercial-buildings-into-life-science-facilities-qa\/\">repurpose the asset into a life science campus<\/a>.<\/p>\n<p>The properties are located at 2450 and 2600 Perimeter Park Drive, 507 Airport Blvd. and 515 McCrimmon Parkway, within Perimeter Park. The more than $3 million-square-foot office park is one of the largest in the Research Triangle.<\/p>\n<p>Perimeter\u2019s Edge is less than 3 miles of Raleigh-Durham International Airport, with interstates 540 and 40 nearby. Central Raleigh, N.C. and Durham, N.C, with their university clusters, are within a 15-mile radius of the site.<\/p>\n<p>JLL&#8217;s Managing Directors Greg LaBine and Roger Edwards, along with Senior Director Martha Nay represented the borrower. MetLife\u2019s Associate Director Brigitte Burkett originated the credit. Earlier this year, JLL and MetLife teamed up for the acquisition financing of another North Carolina asset. The three-building, mixed-use Metropolitan Midtown development <a href=\"https:\/\/www.commercialsearch.com\/news\/northwood-investors-closes-90m-charlotte-mixed-use-buy\/\">changed hands for $90 million<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The borrower received the five-year, floating-rate financing for the acquisition and planned conversion of the four-building portfolio.<\/p>\n","protected":false},"author":739,"featured_media":1004494675,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,21754,21742,1604],"tags":[34657,32796,34162,35530],"class_list":["post-1004494660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-medical-office","category-latest","category-raleigh-durham","tag-greg-labine","tag-jll","tag-longfellow-real-estate-partners","tag-metlife-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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