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LOS ANGELES-Thomas Properties Group Inc. has arranged a new $350 million mortgage on the publicly held company’s 2.6-million-square-foot City National Plaza office and retail development at Fifth and Flower streets in the central business district. Thomas Properties, which owns the full-block project in a joint venture with the California State Teachers’ Retirement System, reports that the new non-recourse first mortgage was made jointly by Metropolitan Life Insurance Co. and the New York State Teachers’ Retirement System. The loan bears interest at a fixed rate of 5.9% and is for a term of 10 years, to mature in July 2020.


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