JLL arranges $237.7 million financing for King Street’s Pathway Triangle campus
JLL•JLL Capital Markets arranged $237.7 million in financing for Phase I of King Street Properties’ Pathway Triangle campus in Morrisville, North Carolina. The loan from Starwood Property Trust covers four buildings totaling 581,789 square feet.
1. Phase I financing
JLL Capital Markets arranged $237.7 million in financing for Phase I of King Street Properties’ Pathway Triangle campus in Morrisville, North Carolina. Starwood Property Trust provided the loan for four buildings totaling 581,789 square feet of cGMP and advanced manufacturing space.
2. Leasing and construction
Two completed buildings are 73% leased. Novartis fully leases one building, while Liquidia partially leases another for drug manufacturing. Construction started in Q3 2026 on two additional Phase I buildings, one of which is fully pre-leased to Novartis.
3. Planned expansion
Planned Phase II would bring the campus to more than 950,000 square feet of Class A advanced manufacturing space.
