San Diego Life Science Campus Gets $165M Refi

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.”