November 9, 2018 Comments (0) Views: 792 California News, San Diego

Longfellow Expands to West Coast with $112M San Diego Acquisition

Boston-based Longfellow Real Estate Partners acquired the Inspire campus in San Diego from Parallel Capital Partners for $112 million. The 12-building campus totals 318,969 square feet, and is a key part of the tech and life science cluster thriving in and around the Sorrento Valley.

It is the first acquisition by Longfellow on the West Coast, which viewed the move as its strategic next step in its growth as a leading life sciences developer. The acquisition increases Longfellow’s portfolio to more than three million square feet of tech and life sciences space owned and under management in innovation hubs such as San Diego, Greater Boston, Philadelphia and North Carolina’s Research Triangle region.

HFF’s Nick Frasco, Nick Psyllos and Michael Leggett represented the San Diego-based seller. Invesco Real Estate originated a senior loan facility to Longfellow for the acquisition.

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