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Luminous Capital Management and Virtus Real Estate Capital have formed a joint venture to convert an industrial warehouse into a life science facility. The joint venture has secured $33 million in equity capital for the project.

Located at 10225 Willow Creek Rd. in the Scripps Ranch area of San Diego, the 71,168-square-foot property is largely obsolete as warehouse space. Built in 1979, it features only 14- to 16-foot clear heights, three roll-up doors, six platform docks, heavy power capabilities and ample parking.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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