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Atlanta & Southeast  + Southeast  + Office  |  December 1, 2020
David Cohen
By: David Cohen

MetLife Provides $53M Acquisition Loan for Research Triangle Lab Conversion

JLL has arranged a $52.7 million acquisition loan for Perimeter’s Edge, a flex/office, lab-convertible portfolio totaling 341,547 square feet across four buildings in Morrisville, N.C.

Greg LaBine, Roger Edwards and Martha Nay of JLL secured the five-year, fixed-rate acquisition financing on behalf of the borrower, Longfellow Real Estate Partners, through lender MetLife Investment Management. Loan proceeds were used to acquire the property and fund the forthcoming lab conversion. Brigitte Burkett originated the loan for MetLife.

Perimeter’s Edge consists of 2450 and 2600 Perimeter, 507 Airport Boulevard and 515 McCrimmon Parkway, which are all located within Perimeter Park, one of the Research Triangle’s largest office parks comprising more than three million square feet. This location is also nearby Raleigh-Durham International Airport, North Carolina State University, Duke University and University of North Carolina at Chapel Hill.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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