Wexford Miami, LLC, the members of which are Wexford Equities, LLC and Wexford Science + Technology, LLC (collectively “Wexford”) is developing the first phase of the University of Miami Life Science and Technology Park (the “Life Science Park”). The 8 acre site on which the Life Science and Technology Park is located is expected to contain 1.65 million square feet of developed space, approximately 75% of which is intended for biomedical research and development uses along with supporting activities. The Life Science and Technology Park site is adjacent to the University of Miami Miller School of Medicine within the Miami Health District. The Life Science and Technology Park site fronts Miami-
Dade’s major north-south and east-west traffic arteries, I-95 and SR-836.
The land that comprises the UM Life Science and Technology Park is owned by the University of Miami. The University has leased the land on which Building 1 will be constructed to Wexford under a sixty year ground lease. The ground lease contains provisions protecting the leasehold mortgage interest of lenders. Construction will be funded through a combination of financing (from a 30-year tax exempt bond and BirchLEAF Global, LLC), federal new market tax credits and cash equity. |
