Square Mile Capital originates $373m in construction financing for Bay Area life science development

Square Mile Capital Management has closed a $373 million loan to finance the construction of the first phase of Southline, a mixed-use, transit-oriented life science development in South San Francisco near the city of San Bruno. The senior portion of the loan for the 370,000-square-foot project was provided by Bank OZK.

Southline is being developed by Lane Partners, a commercial real estate investment and development firm headquartered in Menlo Park, Calif. Southline’s investment partners include Goldman Sachs Asset Management’s Real Estate group and an affiliate of Beacon Capital Partners.  The financing was arranged by Matt Haden of Eastdil Secured’s San Francisco office.

“We continue to invest into purpose-built lab developments in the strongest life science markets in the country, and Southline fits squarely within this objective,” said Eric Cohen, Square Mile Capital managing director. “We are thrilled to again partner with Bank OZK, as well as af