{"id":1004339147,"date":"2019-07-17T11:15:11","date_gmt":"2019-07-17T19:15:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004339147"},"modified":"2021-05-15T05:00:40","modified_gmt":"2021-05-15T13:00:40","slug":"bain-sells-life-science-campus-for-255m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bain-sells-life-science-campus-for-255m\/","title":{"rendered":"Bain Capital Sells Life Science Campus for $255M"},"content":{"rendered":"
\"\"<\/a>

Genesis Point Campus. Image courtesy of Bain Capital Real Estate<\/em><\/p><\/div>\n

The real estate investment arm of Bain Capital, along with Phase 3 Partners, has sold a Class A life sciences campus in San Diego to an undisclosed REIT for $255 million. HFF represented Bain Capital Real Estate and Phase 3 Partners in the deal.<\/p>\n

The news comes the day after Tishman Speyer announced its launch<\/a> of a life sciences platform, Breakthrough Properties, with partner Bellco Capital.<\/p>\n

Bain Capital Real Estate, which has invested in approximately 4 million square feet of life sciences and lab space through acquisitions, developments and repositioning across the U.S., first purchased the Genesis Campus Point property in two separate transactions in 2015, in a partnership with Phase 3. Last summer, Phase 3 landed a $149 million<\/a> refinancing loan for the campus.<\/p>\n

The three-building Genesis Campus Point comprises 314,135 square feet and is located in the heart of the University Town Center neighborhood, about a 30-minute drive from downtown San Diego. The campus is situated close to interstates 5 and 805, and is among several prominent research institutions, including the University of California San Diego Health System, Scripps Health and the Salk Institute.<\/p>\n

Tenant amenities at the campus include an on-site restaurant, fitness center with a lap pool, yoga studio, spin studio, showers and locker room, conference centers and an underground parking facility. The tenant roster at the campus ranges from global bio pharmaceutical companies to growth- and early-stage firms.<\/p>\n

Making moves<\/h2>\n

Earlier this year, Bain Capital Real Estate sold a Boston-area life science property<\/a> to an undisclosed REIT for $128 million. The property had been converted into a Class A, LEED Gold\u2013certified lab facility in 2013 and is situated close to Harvard University and MIT. San Diego\u2019s life sciences sector is one of the largest in the country.<\/p>\n

According to a CBRE report from earlier this year, San Diego is the third biggest<\/a> life sciences market in the U.S., topped only by Boston-Cambridge and the San Francisco Bay Area.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company teamed up with Phase 3 Partners to sell the 314,000-square-foot, Class A property in San Diego to a REIT.<\/p>\n","protected":false},"author":745,"featured_media":1004339156,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,21742,21747,1608,15],"tags":[45194,46373,32792,34750],"class_list":["post-1004339147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-latest","category-office","category-san-diego","category-west","tag-bain-capital-real-estate","tag-genesis-campus-point","tag-hff","tag-phase-3-real-estate-partners"],"acf":[],"yoast_head":"\nBain Capital Sells Life Science Campus for $255M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bain-sells-life-science-campus-for-255m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bain Capital Sells Life Science Campus for $255M\" \/>\n<meta property=\"og:description\" content=\"The company teamed up with Phase 3 Partners to sell the 314,000-square-foot, Class A property in San Diego to a REIT.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bain-sells-life-science-campus-for-255m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-17T19:15:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T13:00:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/image-asset-e1563390658967.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"843\" \/>\n\t<meta property=\"og:image:height\" content=\"631\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Holly Dutton\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bain-sells-life-science-campus-for-255m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bain-sells-life-science-campus-for-255m\/\",\"name\":\"Bain Capital Sells Life Science Campus for $255M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bain-sells-life-science-campus-for-255m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bain-sells-life-science-campus-for-255m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/image-asset-e1563390658967.jpeg\",\"datePublished\":\"2019-07-17T19:15:11+00:00\",\"dateModified\":\"2021-05-15T13:00:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9259ffaba4775229ae3556b9555e566d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bain-sells-life-science-campus-for-255m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/bain-sells-life-science-campus-for-255m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bain-sells-life-science-campus-for-255m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/image-asset-e1563390658967.jpeg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/image-asset-e1563390658967.jpeg\",\"width\":843,\"height\":631,\"caption\":\"Genesis Point Campus. 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