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Ventas Acquiring Genesis Towers Complex in $1B Deal

Chicago-based Ventas Inc. is buying Genesis Towers, a 721,000-square-foot life sciences complex in South San Francisco in a deal reportedly valued at roughly $1 billion. The seller is a joint venture between Boston-based Bain Capital and San Diego-based Phase 3 Real Estate Partners, Inc.

In addition to the lab and office space at One and Two Tower Place, the deal includes a four-story, 72,000-square-foot building at 4000 Shoreline Ct. The Genesis complex sits along Highway 101 at the base of San Bruno Mountain and was one of the first West Coast high-rises purpose-built for biotech companies.

Eastdil Secured represents the seller. The acquisition is being funded via $415 million in financing from Citigroup and JPMorgan Chase.

The 21-acre complex includes a 21-story, 375,000-square-foot north tower, which delivered in 2018 and is 91% occupied. The 12-story, 340,000-square-foot south tower was acquired by the sellers in 2015 for $220 million and is fully leased.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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