MILWAUKEE, March 3, 2014 /PRNewswire/ -- Northwestern Mutual has funded a $140 million mortgage loan for Levi Plaza, a multi-building office campus which serves as the global headquarters for Levi Strauss & Company.
Northwestern Mutual provided the loan to a group of investors majority owned and controlled by Gerson Bakar, Diane B. Wilsey and Interland. The campus, developed in the early 1980's, is located on just over nine acres of land in the North Waterfront neighborhood in San Francisco, California.
"The strength of our general account portfolio allows us the ability to negotiate a deal with such strong partners and ultimately complete transactions that deliver value to our clients and policyowners," said Brandon Buza, a director for Northwestern Mutual Real Estate Investments LLC. "The property is well leased and situated between the Bay and the Telegraph Hill. It is within walking distance of the Financial District, yet far enough to offer tenants a different, relaxed feel."
Northwestern Mutual Real Estate Investments, LLC is the wholly owned subsidiary and authorized representative of Northwestern Mutual for the management of Northwestern Mutual's real estate portfolio.
An essential ingredient in maintaining Northwestern Mutual's financial strength and ability to deliver value to policyowners is the performance of the company's $184 billion general account investment portfolio, whose assets back the company's insurance and annuity products.
The investment earnings generated by this portfolio produce capital that helps build the company's strong financial base. They are also the primary determinant of the interest component of the dividend scale for traditional permanent life insurance policies.
Northwestern Mutual has the highest total cash value rate of return among major insurance companies[i]. As part of a well-diversified portfolio primarily invested in investment-grade bonds and other high-quality fixed-income instruments, Northwestern Mutual 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 in apartment, warehouse and office properties.
The company's real estate investments enhance its dividend-paying capacity while supporting economic growth in the communities in which it does business.
About Northwestern Mutual
Northwestern Mutual, as a part of its diversified investing on behalf of its policyowners, is one of the nation's largest real estate investors, with investments in commercial mortgages, equities and securitized investments across all major property types. Our seasoned real estate professionals build lasting relationships and trusted partnerships through an unwavering commitment to our clients, delivering creative solutions to complex transactions across the country. More information about Northwestern Mutual's real estate investing can be found at http://www.northwesternmutualrealestate.com.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, and its subsidiaries. As a mutual company with $1.5 trillion of life insurance protection in force, Northwestern Mutual has no shareholders. The company focuses solely and directly on its clients and seeks to deliver consistent and dependable value to them over time.
Northwestern Mutual and its subsidiaries offer a holistic approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company, limited purpose federal savings bank; Northwestern Long Term Care Insurance Company; and Russell Investments.
[i] According to 20-year actual policy performance information compiled through independent analysis (Blease Research Full Disclosure 2013 Whole Life Edition), Northwestern Mutual's whole life product provided the highest internal rate of return on policy cash value compared to all other similar products offered by competitors based on a $250,000 whole life policy issued in 1993 to a male age 45 with best-class underwriting.
SOURCE Northwestern Mutual