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The property had backed a $30.2 million loan that's securitized through LB-UBS Commercial Mortgage Trust, 2004-C4. The debt matured in May 2011. It had a 6.44 percent interest rate, according to servicer data compiled by Morningstar Credit Ratings.
As part of deal, Inprise/Borland signed long-term leaseback for nearly 40% of the campus. The remainder of the space has already been leased or is under letter of intent.
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