Sterling Bay and Harrison Street have closed on a $265M construction loan from Bank OZK for Pacific Center, a $650M life sciences campus in San Diego.
The partners, both based in Chicago, immediately broke ground for the life sciences mega-project, which will be built in phases over the next four years at a 1.4M SF site in the city's Sorrento Mesa Sorrento Mesa submarket.
More than 500K SF of research space is planned at the Pacific Center campus, along with a 28K SF amenity center and a parking facility for 1,700 vehicles.
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