News release: Just Financed Austin Labs $105MM Construction Loan + $75MM Note-on-Note

CBRE U.S. Healthcare Capital Markets is pleased to announce the note-on-note financing to facilitate a $105 million construction loan for a 223,500-square-foot build-to-suit life sciences laboratory building located at 3600 Breakthrough Loop in the EastVillage Masterplan Community of Austin, Texas.

The CBRE Debt & Structured Finance team included Bob Ybarra, Jim Korinek and Doug Birrell, as well as Zack Holderman and Jesse Greshin of the CBRE U.S. Healthcare Capital Markets’ Debt & Structured Finance team. CBRE served as the exclusive advisor to the co-sponsor, Tarlton Properties.The 100% pre-leased building will be occupied by BillionToOne (BTO), a next-generation molecular diagnostics company, at construction completion projected in April 2027. This will be BTO’s fourth location with longtime real estate partner and developer, Tarlton Properties, and its first facility outside of the San Francisco Bay Area.

CBRE arranged the note-on-note funding with a large West Coast regional bank to provide the construction lender, an undisclosed debt-fund lender, with a portion of its $105 million loan commitment. The construction financing will fund a state-of-the-art, CLIA certified facility that will house more than 1,000 employees including laboratory technicians, clinical laboratory scientists, automation engineers and post-doctoral researchers.

The project is part of the EastVillage ATX, a highly anticipated new 425-acre mixed-use development offering a 1.5 million square foot health and life science campus, 350,000 square feet of retail and restaurants, hotels, entertainment, 2,500 multifamily units and over 450 single family homes.

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