SAN FRANCISCO—Northwestern Mutual has funded a $140-million mortgage loan for Levi Plaza. The multi-building office campus which serves as the global headquarters for Levi Strauss & Co.
Northwestern Mutual provided the loan to a group of investors majority owned and controlled by Gerson Bakar, Diane B. Wilsey and Interland. The campus, developed in the early 1980′s, is located on just over nine acres of land in the North Waterfront neighborhood in San Francisco, California.
“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,” says Brandon Buza, a director for Northwestern Mutual Real Estate Investments LLC. “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.”
According to a previous 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.”