California + San Diego + Finance | August 2, 2023

JLL Arranges $375M Financing on Kilroy’s One Paseo MXU

JLL arranged an 11-year, non-recourse secured loan for $375 million on One Paseo, a mixed-use campus spanning 36 acres and located in San Diego’s Del Mar submarket. The loan was provided by New York Life Insurance Company on behalf of Kilroy Realty Corporation.

The loan is secured by a 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 more than 95,000 square feet of retail.

JLL’s Capital Markets Advisory team was led by senior managing director Greg Brown and directors Charlie Vorsheck and Samuel Godfrey.

Connect

Inside The Story

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints