Skip Ribbon Commands
Skip to main content

News release

Los Angeles, CA.

Jones Lang LaSalle Secures Debt Financing for One California Plaza in Los Angeles

A major U.S. lending institution provides a debt facility of up to $160 million for Trophy Class A office property 


LOS ANGELES, July 7, 2011 — Jones Lang LaSalle today announced its Capital Markets experts have secured a debt facility of up to $160 million for One California Plaza in downtown Los Angeles, California, on behalf of a joint venture between Charter Hall Office REIT and MPG Office Trust, Inc.  A major U.S. lending institution provided a five-year, fixed- and floating-rate loan facility.  The floating-rate loan facility will be available to pay certain leasing related costs and expenses.   

Senior Vice President Reid McGlamery, Executive Vice President Mathew Comfort and Managing Director Paul House led the Jones Lang LaSalle team on the financing.

“One California Plaza is a landmark office tower in a core strategic market and boasts one of the highest-quality tenant rosters in the city,” said McGlamery.  “This trophy asset also benefits from Charter Hall’s strong balance sheet, as well as MPG’s operational expertise in Los Angeles.” 

Comfort added, “Los Angeles is a core market that attracts significant attention from lenders, both domestic and foreign.  With more than 32.1 million square feet of total office space, Los Angeles is experiencing increasingly strong fundamentals.” 

Arthur Erickson Architects designed the 42-story office tower, which fronts Grand Avenue in the renowned Bunker Hill District.  One California Plaza has been a fixture in the Downtown Los Angeles skyline for 25 years and recently achieved Energy Star certification for its superior operating efficiency. 

Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.  The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for its clients — whether a sale, financing, repositioning, advisory or recapitalization execution.  In the last three years, Jones Lang LaSalle Capital Markets completed more than $143 billion of transactions globally.  The firm’s Capital Markets team comprises approximately 1,500 specialists, operating in 180 major markets worldwide. 

About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firmoffers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $43 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.