JLL arranges $350M refinancing of 225 Bush Street
The iconic core office building is located in one of the U.S.’ top-performing investment markets
SAN FRANCISCO, October 28, 2019 – JLL announced today that it has arranged a $350 million refinancing for 225 Bush Street, a historic, Class A office building totaling 580,000 square feet in the heart of San Francisco’s Financial District.
JLL represented the owner, Kylli, Inc., in securing the fixed-rate loan through Deutsche Bank.
225 Bush Street was constructed in 1922 as the Standard Oil Building for John D. Rockefeller by world-renowned architect George W. Kelham. At the time of its completion, the 22-story Class A office tower was the tallest building in San Francisco. The building is 100% leased to 31 tenants representing the technology, media, business services, consulting and finance industries. Located on the corner of Sansome and Bush Streets, 225 Bush Street offers exceptional accessibility to the Financial District, South of Market (SOMA), Union Square and Jackson Square neighborhoods as well as major public transportation hubs including Transbay Transit Center and Park, the Ferry Terminal, Montgomery and Embarcadero BART stations.
The JLL Capital Markets team representing Kylli was led by Managing Director Jordan Angel and supported by Analysts Taylor Gimian and Andie Fezell.
“According to JLL Research, San Francisco has continually ranked as one of the top markets in the nation, beating many other cities in categories such as investor demand, availability of financing and overall strength of the local market,” Angel said. “With tenant demand continuing to significantly outweigh availabilities, we expect fundamentals in the market to continue to tighten.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
Kylli, Inc. is a full-service real estate investment management company focusing on the acquisition, development and management of institutional quality real estate assets in the San Francisco Bay Area. Kylli operates an integrated model, focusing on sustainability, excellence in design and quality across all projects. Its vision is to create and manage projects that exceed the expectations and needs of the people that use them. Kylli’s assets in California total over $1 billion, with over 500,000 sq. ft of office space under management in San Francisco, 800,000 sq. ft of office space under construction in Burlingame and over 48 acres of land inventory in Santa Clara.