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Legg Mason Dorman & Wilson, Inc.

Martin Klebanoff, managing director of Legg Mason Dorman & Wilson, Inc.'s (LMD&W) Parsippany, NJ Regional office, arranged $4.2 million in first mortgage financing provided by Freddie Mac to Concord Apartments of South Orange, Inc.

Concord Apartments is a 57-unit apartment complex located on Irvington Avenue in South Orange, NJ. According to Klebanoff, the lender closed this loan in the midst of the recent finance market uncertainty, providing very favorable financing to the borrower. Financing was based on a 6.68 percent interest rate, 30-year term and 30-year amortization.

Legg Mason Real Estate Services,, and its affiliate, Legg Mason Dorman & Wilson, Inc., are wholly-owned subsidiaries of Legg Mason, Inc. and provide commercial mortgage banking, commercial mortgage servicing, pension fund real estate advisory services, real estate investment sales and real estate consulting services to institutional investors, property owners and developers nationally through 18 regional office locations.
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Title Annotation:arranges $4.2 million in first mortgage financing for Concord Apartments of South Orange, NJ
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1U2NJ
Date:Jan 13, 1999
Words:146
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