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CENTURY CITY, CA-The owners of the 894,000-sf Watt Plaza twinoffice towers have refinanced the class A property with a $175million loan arranged by Allstate Real Estate Investment Group andChurchill Mortgage Corp. The deal is the largest single-asset loanever by Allstate, according to company officials.

The Allstate and Churchill team that worked on the deal saysthat the new loan meets the borrower's goal of finding a 15-year,fixed-rate loan amortized over 25 years at the best termsavailable. Churchill president Gary Nelson and SVP Mike Thorpworked with Allstate Portfolio Manager Mark Bishop to arrange thefinancing.

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