Thomas Properties closes $846m in loan refinancing
Thomas Properties Group announced today that TPG/CalSTRS, LLC, its joint venture with the California State Teachers' Retirement System (CalSTRS), has closed on new first mortgage loans for San Felipe Plaza, 2500 CityWest Blvd. and Brookhollow Central, three suburban office properties in Houston, Texas. In addition, the Company has completed an extension of the construction loan secured by the remaining units at its Murano condominium tower in downtown Philadelphia. The Company has only one remaining loan maturity before the end of 2012, which the joint venture expects to refinance in the coming months.