SAN FRANCISCO-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Northwestern Mutual has funded a $110-million mortgage loan on Foundry Square I. The 10-story 334,320-square-foot property is located in San Francisco's CBD.
The building is 97% leased to BlackRock Inc. and adjacent to the Transbay Transit Center, which is scheduled for completion in 2017. Northwestern Mutual provided the loan to The State Teachers Retirement System of Ohio.
“Foundry Square is a beautiful asset providing key access to the upcoming multi-billion dollar Transbay Transit Center, which some are already calling the 'Grand Central Station of the West,'” explains Brandon Buza, director of Northwestern Mutual Real Estate Investments LLC, in a prepared statement. “This investment demonstrates our commitment to expanding our presence along the West Coast.”
GlobeSt.com was not able to obtain further information by press time, but will follow up as more details become available.
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