June 7, 2021 9:00 AM
星空体育app下载, as an exclusive advisor to Invesco Advisers, Inc., announces it has arranged $99.235 million in financing to acquire and convert a newly developed 335,000-square-foot, six-building portfolio in Alameda, California for state-of-the-art life science use.
Vice Chairman Ramsey Daya and Senior Managing Director Chris Moritz of 星空体育app下载鈥檚 Debt & Structured Finance team helped arrange the financing on behalf of the owner. The loan was placed with PGIM Real Estate.
鈥淭he East Bay has emerged as one of the most active life science submarkets in the Bay Area through the pandemic, drawing interest and demand from both tenants and capital, said Daya. 鈥淭hese conditions, coupled with the strong sponsorship, lead to a high level of interest from the lending markets for the opportunity.鈥�
Located on Alameda鈥檚 Bay Farm Island at 1410-1430 Harbor Bay Road and 1955-2115 North Loop Road, the properties feature 24’ to 28’ clear heights, dock high and at-grade doors as well as ample power, which position them for multiple life science uses, from lab R&D to GMP manufacturing (according to 鈥淕ood Manufacturing Process鈥� regulations set by the U.S. Food and Drug Administration).
Moritz added, 鈥淚nvesco鈥檚 acquisition will allow them to take advantage of the maturation of the Bay Area life science industry that span the breadth of medical, agricultural and industrial technologies. As companies focus on quality assurance and onshoring, domestic GMP facilities have become critical for companies to manage their throughput and fuel their growth. This project is no exception and is set to become one of the most state-of-the-art facilities in East Bay.鈥�
The properties are zoned for manufacturing and research and development, allowing for a wide variety of life science uses that will take advantage of one of the most prominent and active life science clusters in the United States, according to 星空体育app下载 Research.
About 星空体育app下载
星空体育app下载 Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (鈥溞强仗逵齛pp下载鈥�), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2020, 星空体育app下载 generated revenues in excess of $1.9 billion. To learn more, visit nmrk.com or follow .
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