Montgomery St., J. Small Inv. and affiliate of Lyda Hill Philanthropies secure financing for Dallas life sciences project
Montgomery Street Partners, J. Small Investments and an affiliate of Lyda Hill Philanthropies announced that they have secured financing for the redevelopment of Bridge Labs at Pegasus Park, a 135,000-square-foot life sciences/lab facility in Dallas.
JLL worked on behalf of the borrowers to secure a five-year construction loan through InterBank. Additionally, JLL placed C-PACE financing with Nuveen Green Capital to complete the capital requirements for the redevelopment.
Formerly a call center, Bridge Labs is a two-story building that will be converted and expanded into a state-of-the-art lab/R&D facility by third quarter 2024, including prebuilt lab spec suites and centralized lab services/amenities. Bridge Labs at Pegasus Park is already 30 precent preleased.
The property is located within Pegasus Park, positioned between Dallas’s Design District and the Southwestern Medical District. The campus has amenities such as a brewery with a restaurant and tapro