The sellers were the California State Teachers Employee Retirement System (CalSTERS) of Sacramento and Los Angeles-based CBRE Investors Inc. CBRE Capital Markets and its CBRE/Melody's Portland office arranged a $35-million acquisition loan with an undisclosed life insurance company. Terms of the loan also were not disclosed in a prepared statement from CBRE.
The building at Kennedy Boulevard and Tampa Street is 95% leased to 54 tenants, according to the statement. The tenant roll includes Fifth Third Bank, CB Richard Ellis Inc., Deloitte & Touche, IKON Office Solutions, Fujitsu Consulting, GSA and Hill & Knowlton.
Terrace Tower is part of Terrace Tower Group USA, a privately held group of companies providing full-service commercial real estate activities.
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