JLL Capital Markets has arranged $991.77 million in financing for a geographically diverse, 17-commercial property portfolio totaling more than seven million square feet across major U.S. markets.
The commercial property portfolio is composed of five office assets, nine industrial and three multi-housing assets which 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 worked on behalf of CalSTRS and their advisor, PCCP, to arrange the 10-year, fixed-rate loan with New York Life Insurance Company.
JLL Executive Managing Director Kevin MacKenzie, Senior Managing Director Bruce Ganong and Managing Director Brian Torp represented the borrower. A support team of JLL’s Spencer Bergthold, Sam Godfrey, Bercut Smith and Andie Fezell assisted with the transaction.