Sterling Bay Secures $290 Million Refinancing For Pacific Center Life Sciences Campus In San Diego

The asset involved in this transaction is a 525,000-square-foot Class A life sciences campus located at 9925 & 9955 Pacific Heights Boulevard in the San Diego, CA market. The refinancing transaction amounts to $290 million, facilitating the property's ongoing operations and future funding needs.

Summary of transaction details:

• Property Type: Life Sciences
• Transaction Amount: $290,000,000
• Loan Type: Refinance
• Lender: Tucker Hughes & Tripp Taylor - Peregren Capital Group
• Landlord: Andy Gloor - Sterling Bay
• Brokers: Jonathan Firestone, Blake Thompson & Jack Condon - Newmark

In this refinancing deal, Sterling Bay and its institutional partner played a vital role by securing financing led by Peregren Capital Group. The transaction includes $162.5 million in future funding intended for leasing reserves as the property addresses challenges in the current lab market environment in San Diego.