Levi's Plaza, a multi-building office campus which serves as the global headquarters for Levi Strauss & Company, received a $140 million mortgage loan from Northwestern Mutual this week. The loan was provided to to a group of investors majority owned and controlled by Gerson Bakar, Diane Wilsey and Interland. According to a GlobeSt.com article, Levi Strauss had mulled its space options for quite some time before deciding to renew here and wanted to “have a good understanding of the current rental rates for a renewal versus the other options.”
"The strength of our general account portfolio allows us the ability to negotiate a deal with such strong partners and ultimately complete transactions that deliver value to our clients and policyowners," said Brandon Buza, a director for Northwestern Mutual Real Estate Investments. "The property is well leased and situated between the Bay and the Telegraph Hill. It is within walking distance of the Financial District, yet far enough to offer tenants a different, relaxed feel."
Levi's Plaza is located in Embarcadero in San Francisco, California on the site originally known as Frederick Griffing's wharf. Construction on the 763,000 square foot, seven story office complex was completed in 1981 when Levi Strauss & Co. first moved to the facility. The complex also includes a retail center that serves residents of the area and employees.
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment