Saturday, June 24, 2017

HFF secures $75 million construction loan for life science lab project in South San Francisco

Genesis North Tower Life Science Building, South San Francisco, CA

Tim Wright
SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced 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.

Olga Walsh
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.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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