BOLOUR’s ability to lend on complex, time-sensitive transactions supports the asset’s upcoming loan maturity and provides funds for immediate upgrades to accommodate a full-building lease.
“Flexibility and speed were critical to this transaction,” said BOLOUR CEO Mark Bolour. “BOLOUR quickly refinanced this maturing loan and set aside tenant improvement funds to support an R&D lab buildout in one of San Diego’s most premier research markets.”
“We remain confident in this sector and continue to pursue comparable lending opportunities,” added Bolour Vice President of Acquisitions and Private Lending DaJuan Bennett.
Located at 6680 Cobra Way, the 35,462-square-foot building can accommodate wet lab, R&D and related functions. Key features include 25’ clear heights, HVAC throughout, 4,000 amps of power and floor-to-ceiling windows with views of Peñasquitos Canyon. Recent upgrades include new outdoor patios, a café-style break room and new restrooms with showers. The property sits within San Diego’s leading life science hub, with expansive nearby dining and retail, and easy access to Interstates 5, 15 and 805.
Scott Selke of Cushman & Wakefield represented the borrower.
About Bolour Associates Inc.
Bolour Associates Inc. is an integrated real estate finance, investment and development firm that invests in and finances value-add assets in emerging and transit-oriented neighborhoods. Property types include urban infill land, retail, industrial, multifamily and mixed-use. As a lender, BOLOUR provides borrowers with individually designed debt solutions that often feature creative loan structures and quick closings. The company is currently active in 17 states and the District of Columbia. More information is available at BolourAssociates.com.
