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Print Edition StoriesWednesday, July 1, 2009
Boston life science center pulls in $350M loan
By Mass High Tech staff
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The Center for Life Science in Boston has landed $350 million in loans to secure its 700,000 square foot research center with laboratory and office space in the Longwood Medical Area. The loan was arranged by Holliday Fenoglio Fowler LP and granted through John Hancock Life Insurance Company, TIAA-CREF and Westdeutsche ImmobilienBank AG.
The center, which is intended to serve as a world-class research and collaboration hub for life sciences companies and the Harvard University-affiliated teaching hospitals, was completed last year. As of the beginning of 2009, the center was nearing its capacity.
The center, which is leased to Beth Israel Deaconess Medical Center, is located near Harvard Medical School, Children’s Hospital Boston, Dana-Farber Cancer Institute, Immune Disease Institute and Kowa Co. Ltd., a cardiovascular disease research firm.
The Center for Life Science in Boston has 18 stories of laboratory and office space. San Diego-based BioMed Realty Trust Inc., a real estate investment trust catering to the life sciences industry, owns the building.
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