Gattuso Development Partners and Vigilant Holdings have secured a $290 million construction loan for what will become the largest life science campus in Philadelphia.
The 520,000-SF, 11-story complex at 3201 Cuthbert Street is scheduled to be completed in early 2025, and a significant portion of it already is pre-leased to two tenants. SmartLabs and Drexel University have inked deals for about 45% of the lab space at the facility.
JLL Capital Markets arranged the construction loan for the project through Corebridge Financial as well as an equity commitment from The Baupost Group.
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