June 8, 2021 9:00 AM
星空体育app下载, as exclusive advisor to Longfellow Real Estate Partners, announces it has arranged $178 million in financing for San Mateo Bay Center in San Mateo, California. The two-building, 241,228-square-foot Class A office complex will be converted into one of the San Francisco Peninsula鈥檚 premier life science campuses, taking 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.
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, Longfellow Real Estate Partners, a global life science owner and operator whose portfolio currently totals approximately 6.5 million square feet. 星空体育app下载鈥檚 Vice Chairman and Head of Capital Markets Steven Golubchik represented the seller in the transaction.
鈥淏ay Area universities and institutions produce more PhD scientists and engineers than any other area in the United States, making Longfellow鈥檚 decision to create a preeminent campus environment at Bay Center incredibly astute, taking advantage of the existing critical mass of tenancy in a location ideal to recruit the most highly-educated talent,鈥� said Moritz.
鈥淥ur conversion of the San Mateo Bay Center will bring state-of-the-art-lab space to one of the most dynamic life science markets in the nation. We are grateful to be working with 星空体育app下载 in executing a deal that advances Longfellow鈥檚 national strategy of expanding our portfolio in the country鈥檚 premier hubs for the life science sector,鈥� said Longfellow CEO Adam Sichol.
Located at 901 and 951 Mariners Island Boulevard in San Mateo, the property is situated in a life science cluster anchored by Gilead鈥檚 global headquarters boasting nearly two million square feet of life science tenancy in the submarket. The central location also benefits from the major life science nodes in South San Francisco to the north and San Carlos to the south, both accounting for over a million square feet of life science tenancy.
鈥淕iven Longfellow鈥檚 pristine reputation and track record, lenders expressed significant interest in the financing,鈥� Daya added. 鈥淭he property presented an opportunity to help fund the conversion into one of the most exciting infill life science campuses on the West Coast. Mesa West stood out in a competitive landscape and was able to execute smoothly and efficiently for the borrower.鈥�
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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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