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Phase 3 Real Estate Partners And Bain Capital Real Estate Secure $484 Million Loan From Brookfield For Genesis Marina
FINANCED
$484,000,000
+ 1
California
See Similar DealsLife Sciences561,000 SF
Financed 01/09/2025
FINANCED
Phase 3 Real Estate Partners And Bain Capital Real Estate Secure $484 Million Loan From Brookfield For Genesis Marina
3500 Marina Boulevard
See Similar DealsLife Sciences561,000 SF
Financed 01/09/2025
+ 1
Summary
CALIFORNIA
Asset Type:Life Sciences
Price Per Square Foot:$862
Total Square Footage:561,000 SF
Transaction Type:Loan
The asset involved in the transaction is the Genesis Marina life sciences campus located at 3500 Marina Boulevard, Brisbane, with a total square footage of 561,000. A loan amount of $484,000,000 was secured as part of a refinance arrangement.
Summary of transaction details:
- Property Type: Life Sciences
- Transaction Amount: $484,000,000
- Lender: Bruce Flatt & William Powell - Brookfield
- Landlord: Neil Fox - Phase 3 Real Estate Partners & John Connaughton - Bain Capital Real Estate
- Brokers: Bruce Ganong, Tim Wright, Todd Sugimoto & Daniel Pinkus - JLL
- Loan Type: Refinance
This transaction involved a joint venture between Phase 3 Real Estate Partners and Bain Capital Real Estate, reflecting their collaboration in securing financing from Brookfield for the property.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$484,000,000.00
Monthly NOI$3,226,666.67
Monthly Debt Service$3,059,209.23
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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