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Although venture capital funding into the sector has dropped, the firm sees investment opportunities.
Northwestern Mutual funded the loan.
The sector is being hit by rising interest rates and other trends also affecting the broader commercial real estate debt markets.
The financing funds the first phase of Sterling Bay and Harrison Street’s collaborative $650m project.
JLL arranged financing for Longfellow following borrower’s recent Bank OZK, Square Mile deal.
The financing will be used for the development of a San Francisco project.
Corebridge Financial funded the loan, with The Baupost Group providing additional equity.
The financing is one of the final deals of 2022 for Square Mile, a New York-based investment manager.
The life sciences sector has so far withstood volatility. Here is what lenders and investors are saying could happen next, Rob Murray writes.
The JLL-arranged loan tracks with regional demand in fast-growing science hub.