Breakthrough Properties Acquires Life Sciences Campus In San Diego From Diversified Healthcare Trust For $159M
SOLD
$159,000,000
California
See Similar DealsLife Sciences186,000 SF
Sold 01/31/2025
SOLD
Breakthrough Properties Acquires Life Sciences Campus In San Diego From Diversified Healthcare Trust For $159M
3030 Science Park Road
See Similar DealsLife Sciences186,000 SF
Sold 01/31/2025
Summary
CALIFORNIA
Asset Type:Life Sciences
Price Per Square Foot:$854
Total Square Footage:186,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,479,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$564,893.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$753,741.12
Annual Debt Service$9,044,893.42
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