PITTSBURGH, PA. — Keystone Property Group has completed the $53.5 million refinancing of Keystone Summit Corporate Park, a 101-acre, Class A office campus located in Pittsburgh. Developed between 1997 and 2002, Keystone Summit consists of five completed buildings and one building under development that total 704,474 square feet. The property is fully occupied by a tenant roster that includes Westinghouse Electric Co., Ericcson, Heinz North America, Siemens, Medco and Federated Investors. Matthew Pestronk and Christine Zivkovic of Ackerman-Ziff assisted Keystone in the refinancing. Matt Sigel and Jessica Jacobs provided in-house representation for Keystone, which was able to cash out two-thirds of its equity in the property as part of the refinancing. The loan was originated under the second generation of CMBS financing.
168