- 537,966 sq. ft.
- Life Sciences
- San Diego
- Transaction Management
- Capital Markets
- Don Mitchell
- Rich Porreco
- Glenn Friedrich
- Brant Bryan
client objectives and resultsSee more success stories
- The company’s facility leases were nearing expiration and IONIS was interested in moving into a new facility that would house their operation under one roof.
- They desired a facility that would reflect the company’s culture, allow for continued growth, and provide an efficient mix of office and highly-specialized lab space for pharmaceutical drug development and testing.
- Cresa researched existing facilities as well as land parcels for purchase or possible build-to-suit opportunities.
- After selecting a land parcel to pursue, the client challenged Cresa to identify financing solutions that would minimize cash outlay, maintain long-term control, and provide a hedge against inflation risk.
- Cresa negotiated and secured the purchase of 12.35 acres, providing an optimum development opportunity for IONIS Pharmaceuticals.
- Cresa Capital Markets developed a strategy with a minimal outlay of cash and attractive financing rates, despite the company not yet reaching profitability. A variety of leasing and financing structures were analyzed.
- Cresa team used its network to identify an ideal financing partner providing for the lowest cost of financing assurance of funding and allow the client to retain absolute control.
- Favorable terms were negotiated for key provisions such as inflation hedges, rent escalations, and predetermined purchase options.
- Cresa worked with the auditors to ensure the lease qualified as an operating lease, and the pre-negotiated purchase options in the lease were structured to provide flexibility to unwind the lease should accounting rules change the treatment of the lease.