Breakthrough Properties Acquires Life Sciences Campus In San Diego From Diversified Healthcare Trust For $159M
3030 Science Park Road
$159,000,000
$854/SF
Building Size
186,000 SF
Asset Type
Life Sciences
Closing
Jan 31, 2025
AI
The transaction involves the sale of a life sciences campus located at 3030, 3040, 3050 Science Park Road, San Diego, which encompasses 186,000 square feet. The property was sold for $159,000,000, translating to a price per square foot of $854. The asset is situated in San Diego's Torrey Pines submarket.
Summary of transaction details:
- Property Type: Life Sciences
- Transaction Amount: $159,000,000
- Buyer: Breakthrough Properties
- Seller: Diversified Healthcare Trust
- Seller's Representative: Coleman Benedict, Kurt Luedtke & Zac Saloff - JLL
- Square Footage: 186,000
- Price Per Square Foot: $854
JLL represented Diversified Healthcare Trust (NASDAQ: DHC) in the transaction. The deal highlights the active interest in the life sciences sector within the San Diego market.
Players
San Diego Life Sciences Market Snapshot
Boundary boundary · Life Sciences · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93