News release

Berkeley property lands $9.75M acquisition financing for life science conversion

JLL Capital Markets led financing efforts for 1440 4th St. in the expanding Berkeley, California, life sciences submarket

November 11, 2021

Kristen Murphy

Investor PR, Capital Markets, Hotels, Property Management
+1 617 848 1572

SAN FRANCISCO, Nov. 11, 2021 – JLL Capital Markets announced today that it has arranged $9.75 million in financing for the purchase of 1440 4th St., a 22,043-square-foot research and development property in Berkeley, California.

JLL worked on behalf of the borrower, Long Market Property Partners, to secure the three-year loan through Ready Capital. Loan proceeds are being used to acquire and reposition the property to expand upon the existing life science uses.

Justin Shapiro of Long Market Property Partners, whose firm has previous experience in the Berkeley market said, “Our team is excited to work on our second research and development project in West Berkeley. With minor refinements to the existing improvements, the building will support the needs of science users in a market with limited inventory of comparable space.”

Originally built as an industrial warehouse in 1948, 1440 4th St. is a single-story building with 18’ clear heights, polished concrete floors and high wood barrel truss ceilings. The property sits on a 0.7-acre site offering 32 off street parking spaces.

1440 4th St.’s location in West Berkeley provides the property with numerous demand drivers inherent to the life sciences industry, including great access to nearby colleges and universities such as UC Berkeley, a highly educated workforce, nearby life sciences employers, access to venture capital and an extensive transportation infrastructure. The property is convenient to numerous major thoroughfares, including US-80 and rail service at both the North Berkeley BART station and the Berkeley Amtrack Station. In addition, 1440 4th Street is close to the Fourth Street Retail Corridor, which offers a wide variety of retail and dining options within walking distance.

Originally built as an industrial warehouse in 1948, 1440 4th St. is a single-story building with 18’ clear heights, polished concrete floors and high wood barrel truss ceilings. The property sits on a 0.7-acre site offering 32 off street parking spaces.

1440 4th St.’s location in West Berkeley provides the property with numerous demand drivers inherent to the life sciences industry, including great access to nearby colleges and universities such as UC Berkeley, a highly educated workforce, nearby life sciences employers, access to venture capital and an extensive transportation infrastructure. The property is convenient to numerous major thoroughfares, including US-80 and rail service at both the North Berkeley BART station and the Berkeley Amtrack Station. In addition, 1440 4th Street is close to the Fourth Street Retail Corridor, which offers a wide variety of retail and dining options within walking distance.

The JLL Capital Markets debt team that represented the borrower was led by Managing Director Jordan Angel.

“This pocket of Berkley provides an extraordinary opportunity for life sciences tenants to build and grow their business in one of the top life sciences markets in the country,” Angel added.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.


Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About Long Market Property Partners, LLC

Long Market Property Partners is a privately held real estate company that takes a hands-on approach to owning and operating real estate. They seek investments that allow them to leverage their experience in leasing, property management, capital improvements, and tenant relationships to mitigate risk and deliver exceptional returns to investors. The principals of Long Market have a track record of acquiring and repositioning office and retail assets across multiple west coast markets and bring a thoughtful blend of both institutional and entrepreneurial strategies to each investment.

About Ready Capital Corporation

Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as SBA 7(a) business loans. Headquartered in New York, New York, Ready Capital employs over 500 lending professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC. Contact Ready Capital Corporation’s Media Relations at PR@readycapital.com