Tishman Speyer And Bellco Capital Secure $465 Million Loan For Torrey Heights Life Sciences Campus

Torrey Heights is a life sciences campus located in San Diego, comprising 520,000 square feet on a 10-acre site. The property is nearly 90% leased and features Pfizer's 230,000-square-foot oncology headquarters as its anchor tenant.

Summary of transaction details:

• Property Type: Life Sciences
• Transaction Amount: $465,000,000
• Lender: J.P. Morgan, Deutsche Bank, Goldman Sachs
• Landlord: Rob Speyer - Tishman Speyer
• Co-Landlords: Rebecka Belldegrun - Bellco Capital; Dan Belldegrun - Breakthrough Properties
• Loan Terms: five-year, fixed-rate

Tishman Speyer and Bellco Capital, through Breakthrough Properties, secured the refinancing for Torrey Heights with a $465 million CMBS loan. This arrangement illustrates the collaboration among prominent financial institutions to support significant real estate ventures in the life sciences sector.