TD Bank and US Bank have provided $64.6 million of financing for 100 and 200 Campus Drive, a pair of office buildings with 535,500 square feet in Florham Park, N.J.

The two buildings are part of a six-building office complex with 1.1 million sf that is owned by KBS REIT II.

The TD/US Bank financing carries a rate pegged to Libor plus 325 basis points and matures in 2014. It could be extended for an additional year. The lenders so far have funded $20 million of the debt.

KBS has entered into an interest-rate swap on the initial $20 million of funding, fixing its rate at 5.5 percent. The thinking is that it would fix the rate on any additional funding.

KBS had purchased the two buildings two years ago for $180.7 million. It had turned to Wells Fargo Bank for $118.3 million of bridge financing that matured last July. That's when KBS had paid down $84.8 million of the $89.8 million of senior debt and subsequently retired the $28.5 million of mezzanine debt.

The buildings are part of the 1.1 million-sf Park Avenue at Morris County complex that was previously owned by JPMorgan Asset Management's Strategic Property Fund. KBS owns the property's four other buildings as well.

Tenants at the complex include BASF Americas Corp., which occupies 199,024 sf through 2016, Merrill Lynch, Hartford Fire Insurance Co. and PricewaterhouseCoopers.

Comments? E-mail Orest Mandzy or call him at (215) 504-2860, Ext. 211.