July 24, 2018 – 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.