March 25, 2019
Blackstone portfolio company BioMed Realty commenced construction on Phase II of the multi-phase, 1.5-million-square-foot Gateway of Pacific in South San Francisco. The campus is at the front door of one of the world’s largest ecosystems of leading life science and research institutions.
The second phase’s two interconnected eight and nine-story buildings will add in excess of 430,000 square feet of space to the development. Conceived as “Science around a Park,” the campus features a first-class, 50,000-square-foot amenity center, with multiple dining options, a health club and spa, informal meeting spaces, and a variety of outdoor recreational areas.
BioMed Realty’s Jon Bergschneider says, “These purpose-built facilities are designed to allow leading scientists and institutions an exceptional location to conduct their mission critical research, and provide companies a campus that they can use to attract and retain talent.”
BioMed Realty also closed on a new $430 million financing for Phase I of the Gateway of Pacific arranged by Eastdil Secured.
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