Phase 3 Real Estate Partners and Bain Capital have secured a $165 refinancing for the Genesis Science Center, a 252K SF life science campus in San Diego that the joint venture partners are planning to expand.
JLL arranged a three-year loan with a variable interest rate from Capital One, which will pay off the existing debt on the property.
The joint venture bought the campus for $54M in 2019 from Brookfield Properties and Qualcomm in three transactions that were financed with a $90M loan from TPG Capital.
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