Square Mile Capital Provides $74MM Loan for Fremont Life Science Acquisition

denwood Life Science Park Fremont Lincoln Property Company West Invesco Real Estate Square Mile Capital Management

(EDITOR’S NOTE: According to previous reporting by The Registry, the sale closed on November 23rd, and the purchase price was $85 million. The seller of the buildings is affiliated with CPF Paseo Associates LLC and Orange County-based Crown Realty and Development.)

New York City, (December 22, 2021) – Square Mile Capital Management LLC (“Square Mile Capital”) today announced that it has originated a $73.9 million loan secured by Ardenwood Life Science Park, a two-building, 186,000 square foot Class A, life science and office campus located in Fremont, CA. 

Square Mile Capital provided the acquisition financing to a joint venture between Invesco Real Estate and Lincoln Property Company West. Eastdil Secured’s San Francisco office arranged the financing.

Originally developed in 2001, the property underwent a comprehensive renovation for lab and office use in 2016. The property is currently 100 percent occupied by affiliates of Tyco Electronics Corporation. 

Square Mile Capital Principal Eric Cohen said, “We have been actively seeking out life science investments in strategic locations throughout the Bay Area and are seeing incredible activity in the space. This partnership is well-positioned to capitalize on the current momentum in the market and we are thrilled to participate alongside them in this transaction.”

The property is in a transit-oriented location with access to Palo Alto within 20 minutes via Highway 84 and to Oakland or San Jose via Interstate 880. The property is less than 10 miles from Downtown Fremont, a walkable area with dining, shopping, and entertainment options. 

About Square Mile Capital Management LLC

Square Mile Capital Management LLC is an integrated institutional real estate and investment management firm based in New York. The firm has an established history of successful investing in commercial real estate at all points in the market cycle.  Square Mile Capital’s experience supplying flexible equity and debt capital solutions in diverse property sectors and across the risk spectrum, combined with its integrated national sourcing and investment platform, facilitates the creation of value for its investors, partners, borrowers and counterparties. Square Mile Capital’s commercial real estate debt platform provides customized capital solutions for real estate owners and developers throughout the United States utilizing its broad investment platform, product expertise and research resources. The firm seeks to identify the impact of long-term trends on real estate values and target its equity investments on key investment strategies likely to benefit from such trends.  For more information, visit www.squaremilecapital.com.

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