HFF Breathes $75M Into South SF Genesis Project
ByHFF breathes new life into mammoth project Genesis, an 800,000-square-foot life science campus in South San Francisco, Calif. The firm worked on behalf of the borrower, Phase 3 Real Estate Partners Inc., to secure a $75 million loan for the second phase of the project, the construction of North Tower, a 21-story, 390,000-square-foot building. NKF is spearheading project leasing efforts for the North Tower and South Tower.
Phase 3 Properties acquired the formerly-known Centennial Towers, a 340,000-square-foot Class A office development, from Myers Development Co. in 2015 for $162 million, according to Yardi Matrix. Located at Two Tower Place, just off Highway 101, the project is seven minutes from the San Francisco Airport, 13 minutes from downtown San Francisco and 25 minutes from Silicon Valley East Bay. Transit options include shuttles to BART, Caltrain and Bay Ferry Service…
