A major new development is planned for one of the Bay Area's leading life science hubs. Phase 3 Real Estate Partners and Bain Capital Real Estate have secured more than $400 million in construction financing for Genesis Marina, a 570,000-square-foot life science campus in Brisbane.

The property is located on 8.7 acres, and it is part of the life science cluster in South San Francisco. The mature market is rated second in the country for life science, and as a result there is limited new development activity. Genesis Marina will become a trophy asset in the market with a waterfront location.

Barings funded the loan, and JLL's capital markets team of senior managing director Tim Wright, managing director Todd Sugimoto and associate Daniel Pinkus secured the funding on behalf of the borrowers. According to Wright, the deal generated strong interest from lenders due to both the quality of the project as well as the tremendous growth in the life science sector.