Oxford Properties Secures $136M Construction Loan For Life Sciences Campus In Carlsbad

Oxford Properties has secured a $136 million construction loan for a build-to-suit development at the Ionis Pharmaceuticals campus in Carlsbad, California. The loan was provided by Otera Capital and arranged by CBRE. The development is part of Oxford's expanding West Coast life sciences portfolio, which now encompasses 900,000 square feet in San Diego.

Summary of transaction details

• Property Type: Life Sciences
• Loan Amount: $136,000,000
• Address: 2855 Gazelle Court
• Market: Carlsbad
• Square Footage: 255,600
• Acres: 18

The loan was provided by Otera Capital, with Rana Ghorayeb representing the lender. CBRE, with brokers Adam Spengler, James Millon, and Thomas Traynor, facilitated the transaction on behalf of Oxford Properties, with Daniel Fournier acting as the landlord. This financing deal further underscores Oxford's commitment to the life sciences sector on the West Coast.