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Square Mile Closes $373M Loan for Peninsula Life Science Project

Square Mile Closes $373M Loan for Peninsula Life Science Project

New York-based Square Mile Capital has originated a $373 loan to finance the construction of the first phase of Southline, a mixed-use, transit-oriented, 370,000-square-foot life science project in South San Francisco, CA. The senior portion of the loan was provided by Bank OZK and the financing was arranged by Matt Haden of Eastdil Secured. The developer of Southline is Lane Partners along with investment partners Goldman Sachs Asset Management’s Real Estate group and Beacon Capital Partners.

“We continue to invest into purpose-built lab developments in the strongest life science markets in the country, and Southline fits squarely within this objective,” said Square Mile’s Eric Cohen. “We are thrilled to again partner with Bank OZK to help create what will be one of the Bay Area’s most prominent new life science projects.”

Upon completion, the first phase of Southline, located at 30 Tanforan Avenue, will feature six stories of state-of-the-art lab and office space, a six-story parking garage and amenities that include a fitness center and restaurant. The 28.5-acre site is adjacent to San Bruno BART and close to the San Bruno and South San Francisco Caltrain stations.

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Square Mile CapitalLane Partners - SouthlineEastdil Secured - San FranciscoBank OZKEric Cohen

About Mark Nieto

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.

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