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LaSalle/Pacshore JV Refi’s Playa Vista Class A Duo for $93M

CBRE Capital Markets’ Debt & Structured Finance group has secured a $93 million loan for a joint venture of LaSalle Investment Management and Pacshore Partners to refinance two of three creative Class A buildings the partners acquired in 2017.

CBRE’s Brad Zampa, Greg Grant, Steve Roth and Megan Woodring arranged the five-year, non-recourse floating rate financing with full-term interest-only payments at a very competitive spread priced over 30-day LIBOR.  The loan was placed through an east coast-headquartered life insurance company.

The 180,354-square-foot portfolio features two Class A office buildings located at 12901 W. Jefferson Blvd., and 5340 Alla Road in L.A.’s Playa Vista submarket. The pair are 70-percent leased in total.

“The depth of capital available to institutional borrowers continues to surprise our team, particularly on our larger west coast executions,” said CBRE’s Zampa.

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