HFF secures $75 million construction loan for life science lab project in South San Francisco
SAN DIEGO, CA – June 15, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured a $75 million construction loan for the development of Genesis North Tower, a 21-story, 390,000-square-foot life science building in South San Francisco, California.
HFF worked on behalf of the borrower, Phase 3 Real Estate Partners, Inc., in arranging the construction loan through a national bank lender.
Genesis North Tower is located at Two Tower Place immediately adjacent to and visible from Highway 101 in South San Francisco’s life science hub. This location is less than 10 minutes from the San Francisco Airport and proximate to the Bart/Caltrain lines of the San Bruno and South San Francisco stations. The shovel-ready project is the second phase of a combined 800,000-square-foot life science project, which also includes the existing Genesis South Tower lab property and future seven-story Hotel and Amenity center.
The HFF debt placement team representing the borrower was led by senior managing director Tim Wright, managing director Todd Sugimoto, director Zack Holderman and associate Olga Walsh.
About Phase 3 Real Estate Partners, Inc.
Phase 3 Real Estate Partners, Inc. (P3RE) is a progressive real estate company dedicated to fostering the growth of the life science community by providing premiere, Class A environments that meet the needs of companies today and in the future. P3RE’s properties are located in the epicenters of the life science markets in San Diego and San Francisco. These are innovative urban centers for the life sciences, and represent two of the top three life science clusters in the world.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.