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News release

SAN FRANCISCO, CA

JLL Secures $152M in Debt for California Center Office Campus in East Bay Area

Tightening fundamentals propel demand for Value-Add San Francisco Area Office Buildings


SAN FRANCISCO, July 23, 2014 – JLL’s Capital Markets experts today announced the firm secured $152 million in debt financing for California Center, a 1,030,266-square-foot office campus located in Pleasanton, California, in San Francisco’s East Bay. Starwood Property Trust provided the five-year, floating-rate loan in which $106.5 million was funded at closing with an additional $45.5 million for future capital improvements.

Managing Director John Manning and Senior Vice President Alex Witt led the JLL team on the transaction.

“California Center is a high-quality office asset that offers large blocks of office space – a rare opportunity in the San Francisco Bay Area,” said Manning. “The asset is backed by best in class sponsorship and offers near-term upside potential, both of which are huge draws for the lending community.”

The six building campus was acquired by Swift Real Estate Partners in June in a sale transaction led by JLL’s investment sales team including Managing Directors Michael Seifer and Rob Hielscher and Vice President Aaron Herter. It features a state-of-the-art conference center, a 600-seat cafeteria, a fully equipped fitness center and an 8.4 acre site that is fully entitled for 305 residential units. The property is a short walk to BART, and there are also numerous retail and dining options within walking distance of the property.

About Capital Markets
JLL 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 clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2013 alone, JLL Capital Markets completed $99 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,300 specialists, operating all over the globe.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4 billion, JLL has more than 200 corporate offices and operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $48.0 billion of real estate assets under management. For further information, visit www.jll.com. ​