SAN FRANCISCO, March 21, 2016 – On behalf of Jamestown LP, JLL’s Capital Markets experts today announced the firm has secured $55 million in refinancing for The San Luis Obispo (SLO) Collection, a 213,655-square-foot retail asset located in San Luis Obispo, California. PNC provided the loan.
Managing Director John Manning, Executive Vice President Alex Witt, Vice President Pavan Malhotra and Associate Sarah Bernhisel led the JLL team on the transaction.
“The SLO Collection features household name retailers as well as regional shops and restaurants, providing a unique combination and strong in-line sales,” said Manning. “Its location between San Francisco and Los Angeles and status as a premier university town will keep foot traffic and demand high.”
The SLO Collection totals eight buildings: two modern multi-tenanted retail properties along with a mixture of six stand-alone historical buildings and is nearly fully leased to a credit tenant roster. The property is part of the Central California Coast’s main retail hub and located near California Polytechnic State University, which has more than 20,000 students enrolled.
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 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.
For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.
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. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 230 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $56.4 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.