Buildings like Vertex in the Torrey Pines submarket (shown here as a VR model) — are part of North County San Diego’s life-science hub. | Courtesy a representative of BNBuilders

$149M Refi for UTC Life-Science Campus

Carrie Rossenfeld Office

HFF represented borrower Phase 3 Real Estate Partners Inc. in the $149-million refinancing of Genesis Campus Point, a three-building, state-of-the-art, life-science campus totaling 314,135 square feet located at 4224 and 4242 Campus Point Court and 10210 Campus Point Drive in the UTC submarket of San Diego. The property comprises three class-A life-science buildings, an underground parking facility, and an amenity building that features a fitness center with lap pool, yoga studio, spin studio, and showers/lockers; an on-site restaurant/bar; and conference centers.

Tenants at the life-science campus include Poseida Therapeutics, MabPlex USA, Heron Therapeutics, Celgene, Tocagen, BioLabs San Diego LLC, and AveXis Inc.

The HFF debt placement team including senior managing director Tim Wright, managing director Todd Sugimoto, and senior associate Olga Walsh worked to secure the 48-month floating-rate loan.

The location of Genesis Campus Point ranks as the third-largest biotech market in the country behind Boston and San Francisco, according to HFF. Situated just east of I-5 and directly south of its interchange with I-805, the property is positioned within the heart of the UTC submarket, referred to as the “Golden Triangle,” and is proximate to the UCSD health system, Scripps medical campus, Westfield UTC Mall, Torrey Pines Reserve and Golf Course, and numerous dining and entertainment venues.