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

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FINANCED
$90,000,000
Ramsey Daya
Christopher (Chris) Kramer
+ 1

California

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Life Sciences1,096,839 SF
Financed 09/09/2024
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Property Image
FINANCED

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

11035 Roselle Street, 640 Memorial Drive & 100 Beaver Street

See Similar Deals
Life Sciences1,096,839 SF
Financed 09/09/2024
Ramsey Daya
Christopher (Chris) Kramer
+ 1
Contact now

Summary

CALIFORNIA
Asset Type:Life Sciences
Price Per Square Foot:$82
Total Square Footage:1,096,839 SF
Transaction Type:Loan

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.

Players

Christopher (Chris) Kramer
112 deals$21.8B volume(212) 850-5472
BROKER

Ramsey Daya
Newmark
12 deals$2.6B volume
BROKER

Timothy O'Donnell
Newmark
7 deals$1B volume
BROKER

Jordan (Jordy) Roeschlaub
Newmark
321 deals$96.2B volume
BROKER

Details

FINANCED
IMAGE: Christopher Kramer, Timothy O'Donnell, Neil Fox, Ramsey Daya, Jordan Roeschlaub, Alex Cabria & Hiro Otsuka DATE: 09/09/2024 ADDRESS: 11035 Roselle Street, 640 Memorial Drive & 100 Beaver Street MARKET: San Diego, CA; Cambridge & Waltham, MA ASSET TYPE: Life Sciences ~ SF: 365,613 LENDER: SMBC - Hiro Otsuka and Alex Cabria LANDLORD: Phase 3 - Neil Fox LANDLORD'S REP: Jordan (Jordy) Roeschlaub, Christopher Kramer, Ramsey Daya & Timothy O'Donnell - Newmark (@Newmark) LOAN AMOUNT: $90,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$90,000,000.00

Monthly NOI$600,000.00
Monthly Debt Service$568,861.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00