CBRE Group Inc. has facilitated an $85 million construction loan for the 102,000-square-foot Instil Bio Life Sciences Campus in Tarzana. The property is located at 18404-18412 Oxnard St.
CBRE’s Greg Grant arranged the five-year, floating-rate, interest-only, non-recourse loan on behalf of Instil Bio Inc. CBRE’s Andrew Riley and Jeff Pion facilitated Instil Bio’s original acquisition of the property in October 2020.
The recent financing will support the completion of the commercial manufacturing facility.
The campus will feature lab and office space and will adhere to Good Manufacturing Practive protocols approved by the FDA.
“There is an abundance of financing capital in the market for high-quality, purpose-built, life sciences projects – and it is exciting to see more properties like this take shape in the Greater Los Angeles area,” Grant said in a statement.
Instil Bio is a clinical-stage biopharmaceutical company focused on developing cell therapies to treat cancer.
“Los Angeles has continuously ranked among the top 10 life sciences markets given its world-class research institutions and access to skilled labor,” Pion said in a statement. “This property will serve as Instil Bio’s global manufacturing headquarters, ultimately employing hundreds of scientists and research professionals at the location.”
A new analysis conducted by CBRE identifies the 25 top U.S. life sciences labor markets – ranging from established hotbeds like Boston to emerging hubs like Pittsburgh – illustrating that the fast-growing industry extends well beyond the usual handful of locations.
