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8/03/23
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Here’s a quick brief on a major SoCal financing deal. Kilroy Realty Corporation has landed new financing of $375 mil on One Paseo, a world-class, mixed-use campus that spans across 36 acres located in San Diego’s vibrant submarket of Del Mar.
The loan is secured by the portion of the company’s One Paseo campus that is on 23 acres, was developed in phases from 2019-2021 and is comprised of two office buildings, 608 apartment units and over 95k sf of retail.
The eleven-year, non-recourse secured loan was provided by New York Life Insurance Company. It was arranged by Greg Brown, Charlie Vorsheck and Samuel Godfrey with JLL’s Capital Markets Advisory team.
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