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Mortgage Approved for Teleflora Plaza

November 02, 1986

George Smith Financial Services, a division of Grubb & Ellis, has announced the closing of a $9-million, fixed-rate second mortgage on Teleflora Plaza at Olympic Boulevard and Bundy Drive in West Los Angeles.

The nine-year loan, provided by Travelers Life Insurance Co., was structured so the borrower can prepay without penalty after three years. The total of the first and second mortgages is $153 a square foot.

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