JLL Capital Markets has been engaged to market the loan secured by the fee simple interest in 225 Bush, a 22-story San Francisco office tower totaling 585,448 square feet and formerly known as the Standard Oil Building. Senior managing director Rob Hielscher, managing directors Adam Lasoff and Chad Coluccio and director Caroline Reynolds are selling the loan on behalf of a consortium of CMBS securitization trusts which collectively hold the $350-million whole loan secured by the borrower’s fee interest.
225 Bush was originally developed by John D. Rockefeller as the headquarters for Standard Oil and later served as the Chevron headquarters. It was most recently renovated in 2010 and 2020. Tenants at the approximately 50%-leased building include Crusoe Energy Systems, a digital infrastructure company; and Handshake, an AI-driven career network and recruiting platform.
“225 Bush represents one of the most compelling opportunities in the nation,” said Hielscher. “The offering provides investors with the ability to acquire a large, whole-loan position secured by a historically significant San Francisco office asset. The loan structure and underlying collateral present an attractive entry point for a new investor to take advantage of the rebound occurring in San Francisco.”
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