JLL Capital Markets has arranged $165 million in refinancing for Genesis Science Center, a four-building, 252,000-square-foot life sciences R&D campus in San Diego. The firm worked on behalf of Phase 3 Real Estate Partners, Inc. and Bain Capital Real Estate to secure the three-year loan through a national bank.
Genesis Science Center is positioned on Morehouse Drive in the Sorrento Mesa biotech cluster. The fully leased complex is home to a variety of emerging and established life sciences firms and offers an expansive outdoor eatery, fitness center and conference center.
“San Diego continues to cement itself as a top three life sciences market,” said JLL Capital Markets Senior Managing Director Tim Wright, who represented the borrower along with Managing Director Todd Sugimoto and Associate Daniel Pinkus. “We were pleased to assist the borrower in securing long-term financing for another one of their exciting projects.”
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.