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| The Peak at Wateridge, part of the San Diego Life Science Portfolio,Sorrento Mesa, CA |
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| Tim Wright |
The HFF team worked on behalf
of the borrower, Bioscience Properties, Inc. and Singerman Real Estate, LLC, to
secure the five-year, floating-rate bank loan. Loan proceeds are being
used to convert the buildings into Class A laboratory assets.
The portfolio comprises The
Peak at Wateridge, a 180,000-square-foot, two-story office/R&D building
and 6325 Lusk, a 50,005-square-foot, single-story life science building.
Overall, the portfolio is 65 percent leased to two tenants:
Abzena PLC and TriLink Biotechnologies. The Peak at Wateridge sits on
11.09 acres at 10770 Wateridge Drive while 6325 Lusk is positioned on a 5.54
acre-site.
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| Zack Holderman |
San Diego is considered one of the top three life science markets in the country and the immediate area surrounding the properties is home to numerous life science companies, including Nuvasive, Thermo Fisher, BD & Co and Inovio Pharmaceuticals.
The HFF debt placement team
representing the borrower included senior managing director Tim Wright,
senior director Zack Holderman, senior associate Olga Walsh and
real estate analyst Daniel Pinkus.
“The successful capitalization
of the San Diego Life Science Portfolio is a testament to the expertise and
professionalism of Bioscience Properties team,” Holderman added. “The
life science sector in San Diego should continue to grow, with an excellent
base of local talent and commitment to research and development within the
industry.”
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| Olga Walsh |
Holliday GP Corp.
("HFF") is a real estate broker licensed with the California
Department of Real Estate, License Number 01385740.
BioScience Properties, Inc.
(BPI) is the life-science division of Bollert Lebeau Commercial Real Estate.
The group is run exclusively by Steve Bollert, who brings over 25 years
of life-science leasing and development experience to the organization.
Established in 1997
and headquartered in San Diego, CA, Bollert Lebeau Commercial Real Estate is a
leading full service commercial real estate firm focused on acquiring,
financing, developing, leasing, and actively managing office, industrial, and
life science properties in the western United States.
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| Steve Bollert |
SRE focuses on
maximizing risk-adjusted returns through investments in both debt and equity
across all major asset classes including office, retail, hotel, industrial, and
life science, in addition to secondary real estate asset classes including
student housing and senior housing.
Since 2010, SRE sourced and executed, with partners, over $2
billion of investments across the major property types.
CONTACTS:
TIM WRIGHT
CA Lic. #00947197
HFF Senior Managing Director
(858) 552-7690
ZACK HOLDERMAN
CA Lic. #01434957
HFF Senior Director
(858) 552-7690
KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
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