Question-and-Answer Session
Operator
(Operator Instructions). Your first question comes from the line of Chris Canton (ph) with Morgan Stanley.
Unidentified Analyst
Hi, good morning. My question is on the secured markets and sounds like you are still in the market, testing it out, wondering what the capacity is with the insurance company is, then if the composition of the lenders there has changed it all over the last 90 days?
Gerard Sweeney
Well I think we are in we'll continue to actively canvas the secured market. I think Howard and his team has done a great job, meeting our objectives for 2009. I think what we've seen is an increasing number of lenders coming into the marketplace.
Now its best evidence by the dead list we saw on the our One Logon versus our Two Logon financing, where we saw our much broader based range of potential lenders on that second financing. More importantly we continued to be actively time a number of traditional balance sheet lenders for looking for combination of good quality properties, predictable cash flow streams and frankly with good sponsorship.
So I think as we look forward for the balance of 2009 and 2010, we'll continue to work towards identifying opportunities where we can think we can pursue some good levels of secured financings. As Howard touched on, one of our key objectives is to keep our levels secured financing fairly low to maintain our very strong unencumbered metrics.
But certainly we have seen a continued increase in the number of lenders out there looking to do some financing, at least from our narrow window into the world.
Unidentified Analyst
And One Logan was in the high sevens on the interest rate, if I remember correctly. How do you see that changing or is that too much of forecast?
Howard Sipzner
This is Howard. The One Logan financing is currently floating rate at LIBOR plus 350. It will begin to amortize beginning I year 4, 5% rate to drive that constant, but if one more to swap it today, I believe would be in the mid to low sixes. But we left it floating rate for the time being in reflection of our overall floating rate balances.
Unidentified Analyst
Thank you.
Operator
The next question comes from the line of Jordan Sadler with KeyBanc.
Jordan Sadler - KeyBanc Capital Markets
Good morning. Just wanted to ask you question about the leasing velocity during the quarter. Gerry, do you think to some extent the leasing you did during the quarter was a function to pant up demand and how do you see it so far into the third quarter?
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