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.”