The Swig Company Refinances The Mills Building in San Francisco

The Swig Company Refinances The Mills Building in San Francisco

July 14, 2026

The Swig Company has completed the refinancing of The Mills Building, a 491,000 square foot, 22-story office building at 220 Montgomery Street in the heart of San Francisco's Financial District. The lender is Invesco Real Estate. The financing was arranged by Jeff Wilcox at Gantry.

"We're delighted to secure this new financing with Invesco Real Estate for the Mills Building, an iconic office property firmly focused on delivering the character, flexibility, and contemporary amenities that employers and employees want in a workplace today. Our thanks to Invesco Real Estate and Jeff Wilcox for a seamless process," said Will Sandman, Executive Vice President, Director of Asset Management, The Swig Company.

"We're excited to provide the Swig Company with financing for the Mills Building. This investment aligns with Invesco's credit business philosophy of lending to best-in-class sponsors on quality assets in liquid markets. The Mills Building has been under the Swig Company's ownership for more than 70 years, reflecting a long-term investment horizon and commitment to the dynamic city of San Francisco. We thank the Swig and Gantry teams for the opportunity," said Justin Chausse, Managing Director, Invesco Real Estate.

Built in 1891 and owned by The Swig Company since 1954, The Mills Building combines historical elegance with contemporary efficiency. The building offers onsite parking, a wellness room with yoga mats, a bike sanctuary with storage and maintenance facilities, shower rooms, and a flexible conference center that offers configurations with seating capacity from 7 to 55, with complimentary WiFi.

The highly successful Mills Building's spec suite program has played a key role in supporting the property's outstanding refinancing outcome with Invesco Real Estate. Over the past year, more than 80,000 square feet of high-end creative spec suites have been built and leased, driving a substantial increase in building occupancy and underscoring continued demand for thoughtfully designed, move-in-ready office space.

The Mills Building is a highly sustainable modern workplace that attracts a diverse array of tenants, including global design firms Gensler and Huntsman Architecture, Save the Redwoods, Haworth, and San Francisco nonprofit Tipping Point Community. The Mills Building has been LEED Gold certified since 2012 and is also EPA Energy Star certified. In addition, some tenant spaces carry LEED Platinum and FitWel 3-star certifications.

About The Swig Company:

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, The Swig Company is guided by a long-term investment perspective that has proven adept at stewarding investors safely through multiple market cycles. The company's vertically integrated operational platform, which includes investment, asset and property management, and leasing expertise, uses flexibility, generational thinking and sensitivity to sustainable practices to stay at the forefront of emerging trends in the commercial real estate industry. For more information, visit: https://www.swigco.com.

About Invesco Real Estate:

Invesco Real Estate is a global leader in the real estate investment management business with $86.3 billion in real estate assets under management, 596 employees and 21 regional offices across the U.S., Europe and Asia Pacific as of December 31, 2025. With over a 40-year history, Invesco Real Estate, part of Invesco Private Markets, invests across the risk return spectrum, from core to opportunistic; in equity and debt; listed and direct; locally and globally. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd.