Boston Properties and the Teachers Insurance and Annuity Association are tapping the commercial mortgage bond market to refinance a 15-acre office campus in Santa Monica, Calif.

A joint venture between the real estate investment trust and the pension fund has obtained a $550 million mortgage from three banks, Morgan Stanley, Deutsche Bank and Wells Fargo, on the 1,176,161 square foot complex, which is located in the city’s media and entertainment district, according to credit rating agency DBRS.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.