Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.