Despite an uncertain global economic environment, investors and lenders remain drawn to the commercial real estate safe havens of the United States and United Kingdom. On behalf of Alecta, a Swedish occupational pension fund manager with approximately $85 billion under management, JLL’s Global Capital Markets experts announced the firm completed the sale of a global portfolio comprised 47 of office, retail, multifamily and industrial assets across the U.S. and U.K. Blackstone purchased the portfolio’s 21 U.S. assets for $1.7 billion, and a global investment bank purchased all 26 assets in the U.K. for approximately $375 million.

JLL also secured acquisition financing on behalf of Blackstone. The Royal Bank of Canada provided a $799 million loan for the purchase of the U.S. office, retail and industrial assets. A government-sponsored enterprise provided a $93 million loan for the multifamily assets.

The portfolio includes locations in key gateway markets such as London, San Francisco, Washington, D.C. and Chicago and features a diverse range of high-profile tenants. The U.S. portfolio totals approximately 3 million square feet, and the UK portfolio totals 1.5 million square feet.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

Source:JLL

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