OVERLAND PARK, Kan., Aug. 14, 2017 /PRNewswire/ -- JLL's Capital Markets experts today announced the company secured $221.25 million in acquisition financing on behalf of an affiliate of Group RMC Corporation. The loan will be used to purchase Corporate Woods, a 2.2 million-square-foot office campus consisting of 22 mostly Class A office buildings in Overland Park, Kansas. Institutional lenders provided the 10-year, fixed-rate loan.
"This was a can't-miss lending opportunity with a competitive bid process," said Adam Schwartz. "Suburban office campuses are providing experienced sponsors a smart place to find yield, and lenders are underwriting that sentiment."
"We are very proud to own Corporate Woods and we look forward to continue growing our suburban office portfolio," said a representative of Group RMC in New York.
Corporate Woods is located at the confluence of I-435 and US-69 and includes 2.17 million square feet of rentable space over 294 acres, making it the largest corporate campus between Chicago and Denver. The campus is currently over 90 percent occupied, with assets ranging from one to 16 stories.
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 2016 alone, JLL Capital Markets completed $145 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.
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About Group RMC
Group RMC Corporation is a real estate Co-investment group based in New York and Montreal. Group RMC invests in, sponsors, and is the General Partner in undervalued income producing Office properties in secondary and tertiary U.S. markets. Group RMC currently oversees in the U.S., principally in the Midwest, over 9 million square feet representing approximately $1 billion in asset value.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the second quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of nearly 80,000. As of June 30, 2017, LaSalle Investment Management had $57.6 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
Contact: Scott Sutton
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