Science and Technology

Definition Science and technology companies include firms within a wide range of industry sectors including biotechnology, pharmaceuticals, nanotechnology, bioinformatics, biomedical, medical device, diagnostics, biopharmaceutical processing, and data management and storage among others.

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NPS PHARMACEUTICALS CORPORATE HEADQUARTERS

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Sale-leaseback
Case Study
NPS PHARMACEUTICALS CORPORATE HEADQUARTERS

 

 

 
383 Colorow Drive, Pata
Salt Lake City, Utah

Size
93,650 square feet

Project Type
  • 3-Story Office / Lab Headquarters
  • Ground Lease to University of Utah

Program Elements
  • 93.650 SF
  • 4.0 parking / 1,000 sq. ft.
  • Approx. 6 Acres
  • Employee Gym
  • Cafeteria

Financing Services
  • Financial Advisory
    • Lease Structuring
    • Investor Identification
    • Transaction Mgmt.

Project Schedule
Acquisition: Dec 2005


 

NPS Pharmaceuticals, Inc. is a biotechnology company based in Salt Lake City, Utah. BioRealty, in conjunction with a public REIT investor, was able to move from letter of intent to lease signing and closing of this Sale-Leaseback transaction in only ninety-four days. The successful NPS transaction is indicative of the benefits that are currently available to biotech companies and demonstrates BioRealty’s ability to secure lease-backed financing for difficult-to-finance bio-related projects. BioRealty assisted NPS to overcome financing challenges associated with being an early-stage biotech company, having their building sited on leased land and not being located in a primary U.S. life science market. In order to complete the transaction, BioRealty was able to strike an effective balance between the tenant’s facility and capital needs and the need of the investor to achieve an appropriate risk-adjusted return. The result was a transaction that freed up $19MM of capital for NPS, benefited their equity shareholders, and provided NPS long-term control of their facility while providing a fair return for the investor.

 

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