Kilroy Realty Corp. receives $375m in financing for mixed-use property in San Diego

Kilroy Realty Corp. has received an 11-year, non-recourse secured loan for $375 million, provided by New York Life Insurance Company, for the One Paseo mixed-use campus that spans 36 acres located in San Diego’s submarket of Del Mar, Calif.

JLL arranged the financing behalf of the borrower.

The loan is secured by the portion of the company’s One Paseo campus that is on 23 acres, was developed in phases 2019-2021 and is comprised of two office buildings, 608 apartment units and more than 95,000 square feet of retail.