US$85 million construction loan for the development of a 102,000 square foot complex Instill Organic life sciences campus with laboratory, office and production space. On behalf of the borrower, CBRE secured a five-year, variable-rate, interest-free, non-recourse loan from Oxford Properties Group. The company specializes in the development of clinical-stage cell therapies for the treatment of cancer.
The Tarzana neighborhood in the San Fernando Valley will host the Instil Bio life sciences campus. It will be located at 18404-18412 Oxnard Street. According to CBRE, the latest funding will help complete the commercial manufacturing plant once clinical manufacturing is operational.
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The top 25 life sciences job markets were recently identified by CBRE, and LA-Orange County ranked seventh for research talent. Most second graduates in biological and biomedical sciences each year.
Notes on the Instil Bio Life Science Campus project
According to CBRE’s Jeff Pion, who helped Instil Bio purchase the building in October 2020 with Andrew Riley, “This site will function as Instil Bio’s global manufacturing headquarters. Eventually, it will employ hundreds of scientists and research experts on site.
Oxford PropertiesChief Investment and Credit Officer Nu Suwankosai expressed enthusiasm for the company’s involvement. According to Suwankosai, “For Oxford, this funding sits exactly at the convergence of two important investment themes. Deployment in credit and in the life sciences industry.
Due to its top-notch research facilities and accessibility to a skilled workforce, Los Angeles has consistently ranked among the top 10 life sciences markets, Pion continued.
According to CBRE’s Greg Grant, who managed funding for Instil Bio, “There is an abundance of funding capital in the market for high-quality, purpose-built life science projects. It’s exciting to see Additional properties like this are taking shape in the Greater Los Angeles area.