JLL Capital Markets has arranged a $310 million construction loan for the development of Avia Labs at Millbrae Station, a best-in-class life sciences development totaling 315,000 square feet at the Bart and Caltrain station in Millbrae, Calif.
The project will be the first all-electric life sciences development in California.
JLL worked on behalf of the borrower, Longfellow Real Estate Partners, to secure the loan through Otera Capital, a leader in commercial real estate debt.
“The Bay Area remains one of the crucial global hubs for life science innovation within our international portfolio. As we continue to expand our presence in the region, we look forward to delivering ground-up projects that are built to accommodate the robust requirements of our tenants,” said Adam Sichol, Longfellow co-founder and CEO. “Avia Labs will not only provide top-quality lab and office space but reflect Longfellow’s commitment to environmental sustainability across our p