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OpenAI sublease helps KKR land loan in San Francisco

A $650 million CMBS refinancing backs Icona Labs campus
Icona Labs is a 752,314-square-foot office and life science campus in San Francisco's Mission Bay neighborhood. (CoStar)
Icona Labs is a 752,314-square-foot office and life science campus in San Francisco's Mission Bay neighborhood. (CoStar)
CoStar News
April 13, 2026 | 5:57 P.M.

KKR has lined up a $650 million refinancing of its Icona Labs, a 752,314-square-foot office and life science campus in San Francisco's Mission Bay neighborhood, following a major sublease by OpenAI.

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