Kilroy Realty Obtains $375M Refinance Loan For One Paseo Campus In San Diego | 3725 Paseo Place | Allen Matkins | Mixed-use | Loan

Summary

Loan

CALIFORNIA

Mixed-use

Kilroy Realty Corporation has secured a $375 million non-recourse loan from New York Life Insurance Company for its One Paseo campus, located at 3725 Paseo Place in San Diego's Del Mar submarket. This mixed-use property, spanning 36 acres, represents a significant investment in the San Diego market.

Summary of transaction details

Property Type: Mixed-use
Transaction Amount: $375,000,000
Address: 3725 Paseo Place, San Diego
Market: San Diego
Lender: New York Life Insurance Company
Landlord: Kilroy Realty Corporation - John Kilroy
Brokers: JLL & Allen Matkins

The loan, with a term of 11 years, carries a fixed interest rate of 5.90%. It is a non-recourse loan, meaning the lender cannot hold the borrower personally liable for repayment. The loan will be repaid on an interest-only basis and is set to mature on August 10th, 2034.

This financing arrangement will serve Kilroy Realty Corporation's general corporate purposes, supporting the ongoing operations and growth of the One Paseo campus.

Players

All
1

Agents
1

Allen Matkins

$580M Sold

Details

Deal Summary

FINANCED

IMAGE: John Kilroy DATE: 08/01/2023 ADDRESS: 3725 Paseo Place MARKET: San Diego ASSET TYPE: Mixed-use ~ ACRES: 36 LENDER: New York Life Insurance Company (@NewYorkLifeInsurance) LANDLORD: Kilroy Realty Corporation - John Kilroy BROKERS: JLL (@JLL) & Allen Matkins (@Allen.Matkins) LOAN AMOUNT: $375,000,000 LOAN TYPE: Refinance LOAN TERMS: 11 year, non-recourse, fixed rate of 5.90% on an interest-only basis and matures on August 10th, 2034 NOTE: Kilroy Realty Corporation obtained a $375 million non-recourse loan from New York Life Insurance Company for its One Paseo campus in San Diego's Del Mar submarket. The loan has an eleven-year term with a fixed interest rate of 5.90% and will be used for general corporate purposes.

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Address3725 Paseo Place

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