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$71M Financing Arranged for Sorrento Mesa Life Sciences Conversion
A two-property life science portfolio totaling 230,005 square feet in San Diego’s Sorrento Mesa community received $70.5 million in financing. The borrower was Bioscience Properties, Inc. and Singerman Real Estate, LLC.
Proceeds from the five-year, floating-rate bank loan are being used to convert the buildings into Class A laboratory assets.
The portfolio comprises The Peak at Wateridge, a 180,000-square-foot, two-story office/R&D building, and 6325 Lusk, a 50,005-square-foot, single-story life science building. Overall, the portfolio is 65% leased to two tenants: Abzena PLC and TriLink Biotechnologies. The Peak at Wateridge sits on 11.09 acres at 10770 Wateridge Dr., while 6325 Lusk is positioned on a 5.54 acre-site.
HFF’s Tim Wright, Zack Holderman, Olga Walsh and Daniel Pinkus represented the borrower.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing


