{"id":1004742978,"date":"2025-01-13T04:47:58","date_gmt":"2025-01-13T12:47:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004742978"},"modified":"2025-01-15T04:41:04","modified_gmt":"2025-01-15T12:41:04","slug":"genesis-lands-484m-for-san-francisco-life-science-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/","title":{"rendered":"Genesis Lands $484M for San Francisco Life Science Campus"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004742985\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/attachment\/1490949\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1490949\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Exterior shot of 3000 Marina Blvd., an office property within GENESIS Marina, a life science complex in South San Francisco. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg\" alt=\"Exterior shot of 3000 Marina Blvd., an office property within GENESIS Marina, a life science complex in South San Francisco.\" class=\"wp-image-1004742985\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">The building at 3000 Marina Blvd. is part of the purpose-built GENESIS Marina life science complex.<em> Image courtesy of CommercialEdge<\/em><br><\/figcaption><\/figure><\/div>\n\n\n<p>Genesis, a joint venture between Bain Capital Real Estate and Phase 3 Real Estate Partners Inc., has obtained $484 million to refinance GENESIS Marina, a three-building life science complex totaling 566,661 square feet in Brisbane, Calif.<\/p>\n\n\n\n<p>Brookfield\u2019s Real Estate Credit group originated the loan, in a deal arranged by JLL Capital Markets.<\/p>\n\n\n\n<p>The partnership had initially secured a $450 million construction loan originated in 2021 by Massachusetts Mutual Life Insurance Co., according to CommercialEdge. The note was to mature this year.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/the-most-active-life-sciences-markets-in-the-us\/\" target=\"_blank\" rel=\"noreferrer noopener\">The Most Active Life Science Markets in the US<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Developed on an approximately 9-acre waterfront lot, the campus is close to U.S. Highway 101. The location on the 132-acre Sierra Point peninsula provides access to South San Francisco&#8217;s life sciences hub, as well as to the entire San Francisco area.<\/p>\n\n\n\n<p>GENESIS Marina came online in December 2023 and includes three purpose-built facilities:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>3000 Marina Blvd., a six-story building totaling 194,702 square feet<\/li>\n\n\n\n<li>3300 Marina Blvd., a five-story building totaling 197,959 square feet<\/li>\n\n\n\n<li>3500 Marina Blvd., a five-story building totaling 174,000 square feet<\/li>\n<\/ul>\n\n\n\n<p>Including lab and office space, the Class A buildings feature floorplates ranging between 35,000 square feet and 43,500 square feet, passenger elevators, access to an on-site fitness center and a total of 1,037 parking spots spread across two levels. Other amenities feature a conference and event center, an on-site dining space, a cafe and an outdoor terrace, as well as EV stations, among others.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-life-science-real-estate-is-struggling\">Life science real estate is struggling<\/h2>\n\n\n\n<p>According to a <a href=\"https:\/\/www.commercialsearch.com\/news\/office-report-november-2024-commercialedge\/\" target=\"_blank\" rel=\"noreferrer noopener\">recent CommercialEdge report<\/a>, the U.S. life science sector recorded just 948,000 square feet in construction starts at the end of last year, as opposed to more than 30 million square feet of lab space starting construction between 2021 and 2023. The difference in new projects is due to a record low <a href=\"https:\/\/www.commercialsearch.com\/news\/demand-for-lab-space-hits-10-year-low\/\">lab space de<\/a><a href=\"https:\/\/www.commercialsearch.com\/news\/demand-for-lab-space-hits-10-year-low\/\" target=\"_blank\" rel=\"noreferrer noopener\">m<\/a><a href=\"https:\/\/www.commercialsearch.com\/news\/demand-for-lab-space-hits-10-year-low\/\">and <\/a>and a high volume of new supply. <\/p>\n\n\n\n<p>San Francisco had 3.8 million square feet of office space under development as of November 2024, the report shows. The market ranked second on a national level after Boston (with 9.3 million square feet in the pipeline).<\/p>\n\n\n\n<p>One notable life science project currently underway is <a href=\"https:\/\/www.commercialsearch.com\/news\/iqhq-tops-out-330-ksf-life-science-building\/\">IQHQ&#8217;s The Spur<\/a>, a 330,000-square-foot building in South San Francisco, Calif. The developer topped out the first phase of the project in April 2024 and completion is expected later this year. The construction of the fully-electric life science building is backed by a $275 million loan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brookfield\u2019s Real Estate Credit group provided the financing.<\/p>\n","protected":false},"author":2991,"featured_media":1004742985,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21742,21747,1609,15],"tags":[45194,33496,32796,34750],"class_list":["post-1004742978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-latest","category-office","category-san-francisco","category-west","tag-bain-capital-real-estate","tag-brookfield-asset-management","tag-jll","tag-phase-3-real-estate-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Genesis Lands $484M for San Francisco Life Science Campus - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Brookfield\u2019s Real Estate Credit group issued a $484 million refinancing loan for GENESIS Marina, a life science campus in Brisbane, Calif.\" \/>\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\/genesis-lands-484m-for-san-francisco-life-science-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genesis Lands $484M for San Francisco Life Science Campus\" \/>\n<meta property=\"og:description\" content=\"Brookfield\u2019s Real Estate Credit group issued a $484 million refinancing loan for GENESIS Marina, a life science campus in Brisbane, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/\" \/>\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=\"2025-01-13T12:47:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-15T12:41:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\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\/genesis-lands-484m-for-san-francisco-life-science-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/\",\"name\":\"Genesis Lands $484M for San Francisco Life Science Campus - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg\",\"datePublished\":\"2025-01-13T12:47:58+00:00\",\"dateModified\":\"2025-01-15T12:41:04+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"Brookfield\u2019s Real Estate Credit group issued a $484 million refinancing loan for GENESIS Marina, a life science campus in Brisbane, Calif.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg\",\"width\":1000,\"height\":750,\"caption\":\"Exterior shot of 3000 Marina Blvd., an office property within GENESIS Marina, a life science complex in South San Francisco. Image courtesy of CommercialEdge\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Genesis Lands $484M for San Francisco Life Science Campus\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\",\"name\":\"Simona Tudose\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79\",\"caption\":\"Simona Tudose\"},\"description\":\"Simona Tudose is an Associate Editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in July 2022 and writes news about industrial, office and manufactured housing sectors. You can reach out to her at simona.tudose@cpe-mhn.com.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/simona-tudose\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Genesis Lands $484M for San Francisco Life Science Campus - Commercial Property Executive","description":"Brookfield\u2019s Real Estate Credit group issued a $484 million refinancing loan for GENESIS Marina, a life science campus in Brisbane, Calif.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/","og_locale":"en_US","og_type":"article","og_title":"Genesis Lands $484M for San Francisco Life Science Campus","og_description":"Brookfield\u2019s Real Estate Credit group issued a $484 million refinancing loan for GENESIS Marina, a life science campus in Brisbane, Calif.","og_url":"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2025-01-13T12:47:58+00:00","article_modified_time":"2025-01-15T12:41:04+00:00","og_image":[{"width":1000,"height":750,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg","type":"image\/jpeg"}],"author":"Simona Tudose","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/","url":"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/","name":"Genesis Lands $484M for San Francisco Life Science Campus - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg","datePublished":"2025-01-13T12:47:58+00:00","dateModified":"2025-01-15T12:41:04+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4"},"description":"Brookfield\u2019s Real Estate Credit group issued a $484 million refinancing loan for GENESIS Marina, a life science campus in Brisbane, Calif.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg","width":1000,"height":750,"caption":"Exterior shot of 3000 Marina Blvd., an office property within GENESIS Marina, a life science complex in South San Francisco. Image courtesy of CommercialEdge"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/genesis-lands-484m-for-san-francisco-life-science-campus\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Genesis Lands $484M for San Francisco Life Science Campus"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4","name":"Simona Tudose","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79","caption":"Simona Tudose"},"description":"Simona Tudose is an Associate Editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in July 2022 and writes news about industrial, office and manufactured housing sectors. You can reach out to her at simona.tudose@cpe-mhn.com.","url":"https:\/\/www.commercialsearch.com\/news\/author\/simona-tudose\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1490949-e1736768002364.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004742978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/2991"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004742978"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004742978\/revisions"}],"predecessor-version":[{"id":1004743298,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004742978\/revisions\/1004743298"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004742985"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004742978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004742978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004742978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}