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Real Estate/Development

Apr. 24, 2025

Landlord sues biosciences firm for $11.8M lease abandonment

Landlord claims Foundery abandoned $11.8M lease, misrepresented finances, and mingled assets, seeking damages for breach and fraud.

A multi-million-dollar biosciences company and its CEO are being sued by a landlord who claims they abandoned an eight-year lease agreement worth $11.8 million after just seven months and mingled assets to present a picture of financial security.

The landlord of the San Francisco office suite, RFA 350 LLC, claims to have spent millions of dollars on improvements to the property to prepare it for biotechnology venture group Foundery. The landlord alleges the company and its CEO, M...

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