Melody Arranges $31-Mil Loan for Office Complex

SAN DIEGO-The investment banking unit of CB Richard Ellis provides permanent financing for 125,863-sf UTC Executive Plaza.

By Randyl J. Drummer | Updated on September 14, 2000

SAN DIEGO-L.J. Melody, the investment banking unit of Los Angeles-based CB Richard Ellis, has arranged $31 million in permanent fixed-rate financing for the developer of the 125,863-sf UTC Executive Plaza office building.

The office building, at 4570 Executive Drive, was finished in January. Its tenant roster already includes DuPont and Sun Microsystems.

Bill Chiles of L.J. Melody’s San Diego office represented the borrower,Chestnut Properties. Teachers Insurance and Annuity funded the loanthrough the San Diego office of Los Angeles-based Churchill Mortgage.

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