MetLife, Pacific Life Said to Beat Out Banks on Tower Loan
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Vornado Realty Trust is close to obtaining a loan on 555 California St., the home of Bank of America Corp.’s San Francisco headquarters, as competition heats up among lenders for high-profile assignments.
Pacific Life Insurance Co. and MetLife Inc. are poised to beat out a field of Wall Street banks that were aiming to package the loan for sale as securities, according to three people with knowledge of the bidding process. They asked not to be identified because the negotiations are private.