Phase 3 Secures $90 Million Refinance Loan For Life Sciences Assets In San Diego And Cambridge

The asset involved in this transaction is a Life Sciences property encompassing a total area of 365,613 square feet. The addresses associated with the deal include 11035 Roselle Street, 640 Memorial Drive, and 100 Beaver Street, situated within the San Diego, CA; Cambridge and Waltham, MA markets. The transaction involved a refinance loan amounting to $90,000,000.

Summary of transation details:

• Property Type: Life Sciences
• Transaction Amount: $90,000,000
• Lender: SMBC
• Lender's Representatives: Hiro Otsuka and Alex Cabria
• Landlord: Phase 3
• Landlord's Rep: Neil Fox
• Landlord's Representatives: Jordan (Jordy) Roeschlaub, Christopher Kramer, Ramsey Daya, and Timothy O'Donnell - Newmark
• Date of Transaction: 09/09/2024

The key players in this transaction include the landlord, Phase 3, represented by Neil Fox. The landlord's representation is managed by a team from Newmark, which includes Jordan (Jordy) Roeschlaub, Christopher Kramer, Ramsey Daya, and Timothy O'Donnell, facilitating the refinance deal for the property.