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Invesco and LPC to Capitalize on Market Momentum
Square Mile Capital Management LLC recently originated a $73.9 million loan secured by Ardenwood Life Science Park, a two-building 186,000-square-foot class-A life science and office campus in Fremont, CA. Square Mile provided the acquisition financing to a joint venture between Invesco Real Estate and Lincoln Property Company West. Eastdil Secured’s San Francisco office arranged the financing.
Originally developed in 2001, the property underwent a comprehensive renovation for lab and office use in 2016. The property is currently 100 percent occupied by affiliates of Tyco Electronics Corporation.
“We have been actively seeking out life science investments in strategic locations throughout the Bay Area and are seeing incredible activity in the space,” says Eric Cohen, Square Mile Capital principal. “This partnership is well-positioned to capitalize on the current momentum in the market.”
The property is in a transit-oriented location and 20 minutes from Palo Alto.
- ◦Financing
