Breakthrough Properties, a developer of life sciences real estate backed by a joint venture of Tishman Speyer and Bellco Capital, has closed financing and begun construction on an eight-story, 223,000-square-foot life science building in the heart of Philadelphia's Center City District.
Breakthrough worked with Philadelphia-based D2 Capital Advisors to secure the $130 million construction loan from Corebridge Financial.
The building is scheduled to be completed for tenant fit-out by the summer of 2024.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
