June 16, 2017
San Diego-based Phase 3 Real Estate Partners, Inc. secured $75 million in construction financing to develop Genesis North Tower, a 21-story, 390,000-square-foot life science building. 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.
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 21-acre site sits off Highway 101, and is the first high-rise project to offer top quality amenities within a life science campus in South San Francisco’s life science cluster.
HFF’s debt placement team representing the borrower was led by Tim Wright, Todd Sugimoto, Zack Holderman and Olga Walsh.
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