Cottonwood Group has announced the closing of a $105-million construction loan for a large life sciences project in the EastVillage community.

The project, which will be delivered by Reger Holdings and Tarlton Properties, calls for the construction of a 223,500-square-foot complex located at 3600 Breakthrough Loop.  The property is 100 percent pre-leased to diagnostics company BillionToOne, Inc., and is expected to support up to 1,000 new jobs at completion.

“Cottonwood has spent considerable time evaluating life sciences opportunities, and we remain highly selective about where we deploy capital,” said Cottonwood's chief investment officer Mark Green in a statement. “After studying the space over an extended period and reviewing multiple transactions, this project stood out. It combines an essential facility for BillionToOne, experienced development partners in Reger and Tarlton, and an Austin market we know well with durable demand. It reflects the breadth of our platform and our focus on delivering capital aligned with sponsors’ financing needs and tenant schedules.”

Cottonwood has already provided a $284-million senior bridge loan for the EastVillage project. 

"We’re excited to further our partnership with Cottonwood through this milestone project," said Reger Holdings chief executive Gordon Reger. “BillionToOne’s presence further solidifies northeast Austin as a commercial and life sciences hub and advances our long-term vision for EastVillage.”

Overall plans for the EastVillage development include 2,00 homes, 500 single-family homes, three hotels, and 1.5 million square feet of commercial space.