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April 5, 2020
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CalSTRS Portfolio Lands $992 Mil in Financing

3/24/20

JLL Capital Markets has arranged $991.77 mil in financing for a geographically diverse, 17-property portfolio totaling more than 7 msf across major U.S. markets. JLL worked on behalf of CalSTRS and their advisor, PCCP, to arrange the 10-year, fixed-rate loan with New York Life Insurance Company.

The portfolio’s five office assets comprise the majority of the portfolio’s value, with the remaining properties consisting of nine industrial and three multi-housing assets. The properties are located across major markets in seven states, including California, Arizona, Texas, Tennessee, Georgia, Virginia and Massachusetts. The commercial property portfolio is leased to a diverse mix of creditworthy tenancy from varied industries, including financial services, media, software, government, food, law, internet, e-commerce and healthcare.

JLL’s Kevin MacKenzie, Bruce Ganong and Brian Torp represented the borrower. JLL’s Spencer Bergthold, Sam Godfrey, Bercut Smith and Andie Fezell assisted with the transaction.




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