The asset involved in the transaction is an office portfolio consisting of 13 office buildings, totaling 400,000 square feet, located at 1363-1393 & 1707-1797 Veterans Memorial Highway in the Hauppauge & Islandia market. The transaction was facilitated through a refinance with a loan amount of $42,500,000.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $42,500,000
• Asset Size: 400,000 SF
• Address: 1363-1393 & 1707-1797 Veterans Memorial Highway
• Market: Hauppauge & Islandia
• Lender: Morgan Stanley
• Landlord: The Crest Group
• Landlord's Representative: Bryan Manz & Emil DePasquale - Black Bear Capital Partners
• Loan Type: Refinance
• Loan Terms: 10-year fixed-rate loan featuring 18 months of interest-only followed by a 30-year amortization, at 55% LTV
• Number of Tenants: 106

The transaction involves significant stakeholders including Morgan Stanley as the lender, and The Crest Group as the landlord represented by Bryan Manz and Emil DePasquale from Black Bear Capital Partners. The structure of the loan enhances the financial strategy for the landlord while benefiting from the occupancy of 106 tenants within the office portfolio.