Jonathan Scheinberg Purchases Ratio Innovation Campus In Emeryville For $63.5 Million From Fred Seigel

The property asset involved in this transaction is a 243,000-square-foot life sciences campus located at 6401 Hollis Street & 1480 64th Street in Emeryville, CA. The asset was sold for $63,500,000, reflecting a price per square foot of $261. The campus, which encompasses two buildings, was reported to be 71% leased earlier this year.

Summary of transaction details:

• Property Type: Life Sciences
• Transaction Amount: $63,500,000
• Address: 6401 Hollis Street & 1480 64th Street
• Market: Emeryville, CA
• Seller: Fred Seigel - Beacon Capital Partners
• Buyer: Jonathan Scheinberg
• Lender: Athene Annuity & Life Company
• Square Footage: 243,000
• Price per Square Foot: $261

Jonathan Scheinberg, the buyer and founder of Outshine Properties, acquired the campus from Fred Seigel, representing Beacon Capital Partners. The transaction highlights a significant drop in value, as it was purchased for approximately half the price Beacon Capital Partners paid in 2021. The life sciences market in Emeryville has been experiencing a challenging environment, evidenced by R&D and lab vacancies reaching 43%.