Northwestern Mutual Provides Mortgage Loan Worth $140 Million for Levi’s Plaza
- Mar 07, 2014
The global headquarters of world-famous clothing brand Levi Strauss & Company was recently involved in a financing deal worth $140 million. The mortgage loan was provided by Northwestern Mutual, a real estate investment firm that deals with commercial mortgages, equities and securitized investments comprising all property types. The loan was taken on behalf of a group of investors that includes Gerson Bakar, Diane B. Wilsey and Interland.
Levi Plaza, the office complex currently known for housing the global HQ of the clothing company, includes a number of facilities including the The Saddleman Building located at 1355 Sansome Street, which totals 64,000 square feet, The Stern Building at 1265 Battery Street, The Koshland Building, which is the current home of the Mindjet Corporation, and The Koshland Building East located at 1160 Battery Street.
A number of other facilities comprise the sprawling campus. The asset was developed and completed by Interland, one of the current owners, in the 1980s for Levi Strauss, and was considered as the only major property of its kind in the city for a long stretch during that time. Levi Plaza is located on a nine-acre plot of land in San Francisco’s North Waterfront neighborhood.
According to Brandon Buza, a director with Northwestern Mutual’s wholly owned subsidiary, Northwestern Mutual Real Estate Investments LLC, “the property is well leased and situated between the Bay and Telegraph Hill”. He also noted that given the property’s placement, in the vicinity of San Francisco’s Financial District, “far enough to offer tenants a different, relaxed feel”.
Northwestern Mutual currently has a general account investment portfolio worth $184 billion, which provides for the company’s insurance and annuity products.