Victor Khosla Of Strategic Value Partners Acquires $265 Million Construction Loan From George Gleason Of Bank OZK

The asset involved in this transaction is a 500,000-square-foot life sciences campus located at 9955 Pacific Heights Boulevard in San Diego. It is a note/loan type property, facilitating a significant financial arrangement as part of the transaction process.

Summary of transaction details:

• Property Type: Note / Loan
• Transaction Amount: Not disclosed
• Address: 9955 Pacific Heights Boulevard
• Market: San Diego
• Seller: George Gleason - Bank OZK
• Buyer: Victor Khosla - Strategic Value Partners
• Asset Size: 500,000 square feet
• Previous Loan: $265 million construction loan

This transaction highlights the involvement of Bank OZK, which sold the loan for the Pacific Center, developed by Sterling Bay and Harrison Street Real Estate. The property is currently facing high vacancy, with multiple suites available for immediate occupancy amidst a slowdown in life sciences demand.