Northwestern Mutual Provides $140MM Loan into Levi Strauss Corporate Headquarters Building

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Levi Plaza San Francisco real estate The Registry

By Jon Peterson

Milwaukee, Wis. -based Northwestern Mutual has funded a $140 million mortgage loan for a multi-tenant office campus that serves as the headquarters for Levi Strauss & Company located at 1155 Battery Street in San Francisco. The company has an existing long-term lease on the property.

The debt is a first mortgage and will act as a re-financing of the property. The funding for this transaction came from the general account of Northwestern Mutual.

The office campus is owned by a group of investors mainly controlled by Gerson Bakar, Diane B. Wilsey and Interland. Interland is a San Francisco-based company that is the property manager of the complex, according to its Web site. The property was first developed in the early 1980s.

“The strength of our general account 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. He works out of the company’s regional office in San Francisco located at One Montgomery Street.

Northwestern Mutual sees the property’s location as attractive. “The property is well leased and situated between the Bay and Telegraph Hill. It is within walking distance of the Financial District, yet far enough to offer tenants a different, relaxed feel,” said Buza.

The life insurance company continues to look for opportunities to invest in the San Francisco region, as well as the rest of the nation, in the future. “This market has been very good for us. We’re always looking for the right opportunities that align with our investment objective to generate superior returns while maintaining a well-balanced and diversified investment portfolio. Our goal is to be there for our borrowers, joint venture partners and ultimately our policyowners,” said Buza.

Northwest Mutual has a total investment portfolio of $184 billion in its general account. The company invests in commercial mortgage loans that it originates in the private market directly with owners of commercial real estate. The portfolio also includes commercial real estate equity investments primarily with apartments, warehouses, retail centers and office buildings.

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