SAN DIEGO--(BUSINESS WIRE)--HFF announces the $149 million refinancing of Genesis Campus Point, a three-building, state-of-the-art life science campus totaling 314,135 square feet in the UTC submarket of San Diego, California.
The HFF team worked on behalf of the borrower, Phase 3 Real Estate Partners, Inc., to secure the 48-month floating-rate loan.
Genesis Campus Point is located at 4224 and 4242 Campus Point Court and 10210 Campus Point Drive in San Diego, which ranks as the third largest biotech market in the country behind Boston and San Francisco. Situated just east of Interstate 5 and directly south of its interchange with Interstate 805, the property is positioned within the heart of the UTC submarket, referred to as the “Golden Triangle”, and is proximate to the UCSD health system, Scripps medical campus, Westfield UTC Mall, Torrey Pines Reserve and Golf Course and numerous dining and entertainment venues. The property comprises three Class “A” life science buildings, an underground parking facility and an amenity building that features a fitness center with lap pool, yoga studio, spin studio and showers/lockers; an on-site restaurant/bar and conference centers. Tenants at the life science campus include Poseida Therapeutics, MabPlex USA, Heron Therapeutics, Celgene, Tocagen, BioLabs San Diego LLC and AveXis Inc.
The HFF debt placement team representing the borrower included senior managing director Tim Wright, managing director Todd Sugimoto and senior associate Olga Walsh.
Holliday GP Corp. ("HFF") is a real estate broker licensed with the California Bureau of Real Estate, License Number 01385740.
About Phase 3 Real Estate Partners, Inc.
Phase 3 Real Estate Partners, Inc. (P3RE) is a progressive real estate company dedicated to fostering the growth of the life science community by providing premiere, Class A environments that meet the needs of companies today and in the future. P3RE’s properties are located in the epicenters of the life science markets in San Diego and San Francisco. These are innovative urban centers for the life sciences and represent two of the top three life science clusters in the world.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.