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TCC Lines Up $142M Commitment from Alaska Fund for R&D Campus
Trammell Crow Company quietly lined up a $141.5-million equity commitment for a planned research and development campus in South San Francisco for which it has no tenant, reported the San Francisco Business Times. The win comes even as investors continue to back off from new life science projects.
The Alaska Permanent Fund Corp. approved the investment in TCC’s 500,000-square-foot campus project at 120 E. Grand Ave. in the fourth quarter of 2023, according to documents released as part of a Feb. 15 board meeting. TCC secured city approval for 120 E. Grand Ave. last May.
APFC, which is funded by Alaska’s oil and gas reserve revenues, confirmed its commitment to 120 E. Grand Monday to the Business Times. The developer spent nearly $80 million last year to acquire the four parcels that make up the roughly 3.5-acre 120 E. Grand site, the Business Times reported.
TCC’s Adam Voelker told the Business Times no groundbreaking date has been set.
- ◦Development


