A recently completed lab and research-and-development (R&D) building in the Chestnut Run Innovation & Science Park (CRISP) of Wilmington, Del., has received $26 million in permanent financing, arranged by D2 Capital Advisors.
The 80,0000 square foot, state-of-the-art life sciences project was developed by MRA Group, a developer of life science campuses. MRA Group acquired the campus from DuPont in November 2021 and began a phased redevelopment of CRISP. The new life sciences building was completed in December 2023 and is fully occupied on a long-term basis by Prelude Therapeutics, a clinical-stage precision oncology company.
The campus will eventually total more than 1.3 million square feet of lab, R&D and advanced manufacturing space.
“This financing was an important milestone in our redevelopment plan for CRISP, which affords us increased financial flexibility and demonstrates a broader confidence in the region by the capital markets,” said Phi
