Northwestern, Prudential Inject $285M Into LA Towers

Law360, New York (August 21, 2012, 1:13 PM EDT) -- Real estate investors Northwestern Mutual Life Insurance Co. and Prudential Mortgage Capital Co. have teamed up to funnel $285 million into a Los Angeles office complex owned by Douglas Emmett Inc., Northwestern Mutual announced Tuesday.

Each organization is providing an equal half of the funds, which are being packaged in the form of a fixed-rate, seven-year loan for the complex, known as Warner Center Towers, according to Northwestern Mutual.

About $100 million of the nonrecourse loan, which officially closed last month at a 3.85 percent interest...
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