Exclusive: Bay Area Google Base Lands $150M Refi

August 11, 2026

Finance News Office San Francisco More West

This is one of the few office properties the tech giant leases next to its global headquarters.

Broadreach Capital Partners has obtained a $150 million loan for 1625 Plymouth, a 245,738-square-foot, Class AA+ office property in Mountain View, Calif., according to Yardi Matrix. Apollo Global Management originated the mortgage that retires a previous note in the same amount, issued by NYSTRS in 2018.

Google fully occupies the property that came online in 2018 on a built-to-suit basis. The agreement runs through 2033 with a triple-net lease having 3.0 percent annual rent escalation, according to a former JLL for-sale listing.

The six-story building features floorplates ranging between 32,722 and 42,112 square feet, with amenities such as a cafeteria and outdoor patios, among others. The WRNS-designed property, which also includes a four-story parking garage, earned LEED Platinum certification.

The office building is next to Googleplex, the company’s global headquarters. Notably, 1625 Plymouth is among the few properties that the tech firm leases around its base of operations, as opposed to owning. Another one is Ameswell, a build-to-suit office building developed by Broadreach and partner Rockwood Capital and completed in 2020.

Google owned nearly $48.4 billion in office space at the end of 2025, up 6.5 percent year-over-year, according to a SEC filing. The tech giant began shedding some of its leased space in 2023, registering $1.8 billion in exit charges that year.

Office loan volume origination continues to improve

U.S. office loan origination improved 47 percent year-over-year, according to Mortgage Bankers Association second-quarter report. On a quarterly basis, originations rose 23 percent.

The Bay Area, propelled by the tailwinds of a solid AI ecosystem, was on lenders’ radars. In May, a consortium including Apollo and Athene Annuity & Life issued a $232.1 million acquisition loan for Ellis Partners and Baupost Group’s $310 million acquisition of the 637,100-square-foot Great America Commons. PGIM divested the asset.