Research & Development Asset Snags $88M Acquisition Loan in San Francisco
A life science property in San Francisco has secured an $87.9 million acquisition loan from BridgeInvest, according to a statement from the lender.
The buyer was not listed — but the property, 300 Kansas, was developed by Spear Street Capital in 2023. The research and development property now shows up as a "past asset" under the real estate firm's portfolio.
The financing will support 300 Kansas' stabilization and leasing, which is being handled by Lincoln Property Company and Sabal Investment Holdings.
BridgeInvest used its evergreen discretionary strategy, Credit Fund V LP, to support the loan.
"This deal is indicative of our deployment strategy of targeting strong growing real estate markets, working alongside proven repeat sponsors," Alex Horn, founder and managing partner of BridgeInvest, said in a statement.
"300 Kansas is a high-quality, recently constructed research and development space, well positioned to benefit from the continued concentration of innovation-driven demand in San Francisco."
The Class A property in the Mission Bay submarket offers 152,000 square feet of space and is near where major tech and finance brands operate, including NVIDIA, Uber, Visa, Coinbase, Adobe and OpenAI. Also, the asset is in proximity to transportation, including Muni light rail, Caltrain service and BART.
Currently, Spear Street owns just one California asset in its portfolio — The Grove, a 156,000 square feet property in Sunnyvale.
In the fourth quarter of 2025, the San Francisco Bay Area life sciences market was in a reset period, according to a report from Cushman & Wakefield. Vacancy in the city ticked up by 210 basis points year-over-year to 29.1 percent, with average asking rents declining to $5.89 per square foot, from $6.16 per square foot in the same period a year ago.
However, Jason Karbelk, research manager at Cushman & Wakefield, previously told GlobeSt. that the long-term outlook for life sciences in the market looks positive, thanks to strong venture capital investment and limited supply in the pipeline.
Source: GlobeSt/ALM