The borrower is an entity controlled by the California Public Employees Retirement System and Mayflower Realty LLC. Along with the Simon Property Group, a leading retail REIT, Mayflower's ownership includes Teachers Insurance and Annuity Association, the New York State Teachers Retirement System and J.P. Morgan. Simon also manages the mall.
Nationally, Milwaukee-based Northwestern Mutual has invested $17 billion in its real estate portfolio. The regional real estate office, which procured the Salem loan, oversees a portfolio of more than $2.5 billion in mortgage loans and real estate investments. The Wisconsin Investment Board is also participating in the loan.
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