Northern Trust Building
4370 La Jolla Village Dr., San Diego, CA 92122
This investment represents an A-Note purchased at a discount and collateralized by a first mortgage lien secured by The Northern Trust Building, a ten-story office property located in La Jolla, Calif. The Property is part of the Plaza at La Jolla Village, a Class A office complex located in the University Town Center (UTC)/Golden Triangle submarket of San Diego.
The office building is a 188,918 square foot, Class A high-rise office building which was constructed in 1987. The building includes a bar & grill restaurant on the ground floor. Parking for the Property is provided by a partially subterranean parking garage with 124 parking spaces. The building has reciprocal rights to 919 parking spaces located throughout the entire Plaza at La Jolla Village office park.
Investment at a Glance
Location: San Diego, CA
Property Type: Class A Office
Investment Type: A-Note
Acquisition Date: December 31,2008
Total Loan Amount: $57,400,000
Loan Par Value: $94,500,000
Loan Term: 108 months