L.A.-based private equity real estate firm finances a 223,500-square-foot, 100% pre-leased project
Los Angeles-based Cottonwood Group, a private equity real estate investment firm, has announced the closing of a $105-million senior construction loan for a 223,500-square-foot life sciences project within EastVillage, a 425-acre mixed-use community in northeast Austin, Texas. Reger Holdings and Tarlton Properties, a leading life sciences developer and operator based in the San Francisco Bay Area, are partnering to deliver the facility.
“Cottonwood has spent considerable time evaluating life sciences opportunities, and we remain highly selective about where we deploy capital,” said Mark Green, chief investment officer of Cottonwood. “After studying the space over an extended period and reviewing multiple transactions, this project stood out. It combines an essential facility for BillionToOne, experienced development partners in Reger and Tarlton, and an Austin market we know well with durable demand. It reflects the breadth of our platform and our focus on delivering capital aligned with sponsors’ financing needs and tenant schedules.”
Located at 3600 Breakthrough Loop, the facility is 100% pre-leased to BillionToOne, Inc., a molecular diagnostics company focused on non-invasive genetic testing in the prenatal and oncology markets. Once operational, the project is expected to support up to 1,000 new jobs and serve as a key component of BillionToOne’s next phase of growth.
“This facility is essential to BillionToOne’s continued growth,” said John Tarlton, president and CEO of Tarlton Properties. “In a challenging financing market, Cottonwood’s creative, solutions-oriented approach helped us meet the tenant’s real estate schedule.”
The financing builds on Cottonwood’s existing commitment to EastVillage, following a $284-million senior bridge loan closed last year to support the recapitalization of key assets across the master plan.
“We’re excited to further our partnership with Cottonwood through this milestone project,” said Gordon Reger, co-founder and CEO of Reger Holdings, LLC. “BillionToOne’s presence further solidifies northeast Austin as a commercial and life sciences hub and advances our long-term vision for EastVillage.”
Information sourced from Cottonwood Group. To learn more, contact rebling@identitypr.com.
