GE Real Estate funds $63 million loan for three-state portfolio

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Description: GE Real Estate announced it has provided a $63 million, three-year loan to Koll/PER to refinance a nine-property, class-B office and industrial portfolio in Arizona, California and Texas. The initial funding on this first-mortgage transaction was $56 million. The GE Real Estate loan frees up capacity on Koll's credit line, enabling the company to pursue its aggressive acquisition strategy for the second half of 2008. The loan provides partial releases and allows Koll to add and/or substitute assets within the cross-collateralized pool.
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