Federal Realty Investment Trust, an equity real estate investment trust, is acquiring a 75 percent stake in a shopping center and full ownership of an adjoining development site in El Segundo, California for $184 million, Commercial Real Estate Direct reports. The purchase price will include the assumption of $175 million of debt backed by Plaza El Segundo.
That debt includes a $162 million loan, the largest in the collateral pool of JPMorgan Chase Commercial Mortgage Securities Trust, and has a coupon of 6.23 percent and matures in 2017. The deal is expected to close in December.
Click here for the story from Commercial Real Estate Direct.
Commercial Mortgage Securities Trust Federal Realty Investment Trust JPMorgan Chase California CA