Premier San Diego Life Sciences Project Corrals $203M Loan

Square Mile Capital Management LLC has closed a $202.6 million loan to finance the construction of Bioterra, a 316,000-square-foot life science development in the Sorrento Mesa submarket of San Diego. The loan was co-originated with Bank OZK and arranged by JLL Capital Markets. The borrower is Longfellow Real Estate Partners.

In August, Longfellow broke ground on the six-story Bioterra Campus that will feature state-of-the-art lab and office space and amenities such as a coffee bar, full-service gym with outdoor space and a restaurant with a renowned chef. The facility will also be the first all-electric HVAC life science building in San Diego.

“Bioterra is an exciting step forward in Longfellow’s commitment to support the rapidly growing San Diego life science market,” said Longfellow’s Nick Frasco. “The campus will be a major addition to our San Diego portfolio, set to offer unparalleled amenities, state-of-the-art lab space and an unmatched level of care for our tenants.”