The Swig Company Secures Prime Finance Mortgage for 350 California Office Tower in San Francisco

The Swig Company has secured mortgage financing for 350 California, a 300,000-square-foot Class A office tower in San Francisco, with Prime Finance serving as lender, the company announced Nov. 9, 2026. The property was acquired in 2023 in an all-cash transaction.

Prime Finance is a San Francisco-based private commercial real estate finance company. The Swig Company said it plans to use the loan proceeds to fund multiple floors of spec suites and investments in new and improved tenant amenities.

Financing to Fund Spec Suites and Amenities at 350 California

According to the announcement, the amenity program at the tower, located at 350 California Street, includes a new fitness center, a conference center, a tenant lounge and a bike storage facility. The improvements follow recently completed upgrades to the building's lobby and mezzanine. The company also said it has created more than 52,000 square feet of high-end creative spec suites at the property over the past year.

"The solid leasing momentum at 350 California provides the perfect opportunity to expand our highly successful spec suite program while also delivering enhanced amenities. We're delighted to secure this new financing with Prime Finance to support our future vision for the property," said Will Sandman, executive vice president and director of asset management at The Swig Company.

Shawn Cully, managing director at Prime Finance, said: "350 California is a high-quality, well-located property backed by experienced ownership with a strong track record in the San Francisco market. We were pleased to work with The Swig Company to provide financing for the asset and support their long-term vision."

Recent Leasing Activity at 350 California

The Swig Company said it has recently signed more than 33,000 square feet of leases at the building. The transactions include:

• Foreword Capital, LP, an opportunistic investment firm, signed a new 3,000-square-foot lease. The tenant was represented by Will Cassriel and Hillary Hogan of JLL.
• Higher Life Ventures Management, LLC, a deep tech venture capital fund backed by HL Mando, signed a new 2,500-square-foot lease. The tenant was represented by Ryan Ringelstein and Connor McClean of JLL.
• Merlone Geier Management, LLC, a real estate investment firm focused on acquiring, developing, redeveloping and managing retail properties and shopping centers across the West Coast, signed a new 9,500-square-foot lease.
• Three tenants that wish to remain anonymous signed leases totaling 18,500 square feet. They were represented by Michaela Lalanne and John Landers of Colliers International and Jennifer Essner and Sherry Gubera of Newmark.

The Swig Company was represented in all of the transactions by the property's exclusive listing agents at CBRE: Trent Holsman, Sam Stein and Alex Robertson. Available space at the building includes shell-condition space as well as fully furnished, move-in-ready suites ranging from 2,800 to 17,100 square feet.

Property Background

350 California is a 22-story office tower built in 1976. The Swig Company and SKS Partners acquired the property in 2023 in an all-cash transaction. The building has undergone upgrades over the past seven years, including lobby, tenant amenity, seismic, elevator and building-system improvements; the lobby renovation was completed in 2020. The property holds LEED Gold certification.

The tower is located several blocks from the Embarcadero and Montgomery BART stations. Its floorplates measure roughly 16,000 to 17,000 square feet in a side-core configuration. Tenants at the building have included MUFG, which occupied approximately one-third of the tower at the time of the 2023 acquisition, as well as Foreword Capital, Higher Life Ventures Management, Merlone Geier Management and Turner & Townsend.

San Francisco Office Market Context

The financing comes as San Francisco office fundamentals show improvement. Overall Bay Area office vacancy fell to 19.3% in the third quarter of 2026, down 60 basis points from the prior quarter and 220 basis points from a year earlier, according to Colliers. Class A asking rents averaged $68.80 per square foot, up 1.9% year over year.

About The Swig Company and Prime Finance

The Swig Company, LLC is a privately owned, San Francisco-based real estate operator with a 90-year history of investment, development, partnership and management of commercial real estate properties in major U.S. markets. Founded by Benjamin H. Swig in 1936, its platform includes investment, asset and property management, and leasing.

Prime Finance, founded in 2008, is a private commercial real estate credit platform with more than $15 billion in assets under management. The firm invests across multiple real estate credit strategies, including originating floating-rate, non-recourse bridge loans, investing in special situations real estate-related capital structures and acquiring CMBS B-pieces. It has offices in San Francisco, Chicago and New York.

Sources

• The Swig Company press release: The Swig Company Secures Financing & Begins Construction on New Amenities and Spec Suites at 350 California