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Starwood Property Trust backs $237.7M refinance for Pathway Triangle campus
The $237.7 million refinancing covers the first phase of the four-building Pathway Triangle campus near 582,000 square feet, anchored by Novartis.
Commercial Observer reports that King Street Properties secured $237.7 million to refinance the first phase of Pathway Triangle, a four-building advanced manufacturing and life sciences campus in Morrisville, North Carolina.
The campus spans nearly 582,000 square feet and has Novartis as an anchor tenant, with Starwood Property Trust providing the debt, according to Commercial Observer.
The JLL Capital Markets team arranged the transaction, with names listed in the report as Brett Paulsrud, Amy Lousararian, Andrew Gray, Ward Smith, Hugh Doherty, and Libby Horton.
Commercial Observer adds that Pathway Triangle is located at 1000 Science Drive in the research triangle area, which the outlet describes as a leading U.S. biomedical hub.