#USA #Wilmington #D2 Capital Advisors #Chestnut Run #Wilmington DE

D2 Capital Advisors Drives Financial Growth in Life Sciences

In a significant advancement for Wilmington’s innovation landscape, D2 Capital Advisors has arranged a substantial $26 million in permanent financing for a newly completed laboratory and research development (R&D) building situated within the Chestnut Run Innovation & Science Park (CRISP). This project, which marks a pivotal moment in the local life sciences sector, was developed by the renowned MRA Group, a key player in the design and development of life science campuses.

The state-of-the-art facility spans 80,000 square feet and was finalized in December 2023, currently occupied by Prelude Therapeutics, a clinical-stage precision oncology firm committed to exploring innovative treatment strategies for cancer. This building showcases not just advanced laboratory spaces but also represents a growing ecosystem supportive of scientific innovation and collaboration.

In 2021, MRA Group acquired the CRISP campus from DuPont and embarked on an ambitious phased redevelopment plan, envisioned to transform the space into a research and advanced manufacturing hub. Eventually, the campus will encompass over 1.3 million square feet, reinforcing Wilmington’s reputation as a hub for scientific innovation and advanced manufacturing.

Phil Butler, Executive Vice President and Partner of MRA Group, emphasized the importance of securing this financing, stating, "D2's life sciences financing expertise and their robust connections with lenders were invaluable during this process. This financing represents a critical milestone in our redevelopment efforts, allowing us enhanced financial flexibility and demonstrating capital market confidence in the Wilmington region."

The financing was brokered by a seasoned team from D2 Capital Advisors, including Jack Cortese, David Frankel, and John Lightcap. Cortese highlighted the unique appeal of the CRISP campus and the positive attributes Wilmington has to offer the life sciences community. He explained, "Many lenders may be unaware of Wilmington's attractive qualities for the life sciences sector; thus, we dedicated significant time to educate them about the sub-market, the tenant landscape, and the overall value proposition of the area."

Wilmington, strategically located along the I-95 corridor, benefits from its proximity to Philadelphia, just 40 minutes away, enhancing its attractiveness for firms in the life sciences industry. The broader Philadelphia region is home to a thriving life sciences environment, characterized by a wealth of skilled talent and access to elite research institutions and healthcare systems, alongside ample funding opportunities.

D2 Capital Advisors is an affiliate of D2 Organization, focusing on facilitating and structuring real estate equity and debt financing arrangements for developers and investors across the United States. For further details about their services and recent projects, visit D2 Organization's website.

As CRISP continues to evolve, it is poised to catalyze further growth and innovation, not only contributing to the local economy but also positioning Wilmington as a pivotal player in the national life sciences arena. With continued investments and strategic developments, the future appears bright for Wilmington’s scientific community, thanks to instrumental financing efforts by firms like D2 Capital Advisors and visionary development from companies like MRA Group.