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Boylston Properties & J.P. Morgan Global Alternatives Refinance Life Sciences Facility In Watertown For $150M

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FINANCED
$150,000,000
Henry Schaffer
Brett Paulsrud

Massachusetts

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Life Sciences165,600 SF
Financed 06/21/2023
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FINANCED

Boylston Properties & J.P. Morgan Global Alternatives Refinance Life Sciences Facility In Watertown For $150M

100 Forge Rd Watertown, MA 02472, USA

See Similar Deals
Life Sciences165,600 SF
Financed 06/21/2023
Henry Schaffer
Brett Paulsrud
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:Life Sciences
Price Per Square Foot:$905
Total Square Footage:165,600 SF
Transaction Type:Loan

The asset involved is a life sciences facility located at 100 Forge Road in Watertown, Massachusetts, with a total square footage of 165,600. The refinancing for this property amounts to $150 million.

Summary of transaction details:

  • Property Type: Life Sciences
  • Transaction Amount: $150,000,000
  • Address: 100 Forge Road
  • Market: Watertown, MA
  • Lender: Northwestern Mutual
  • Landlord: Boylston Properties & J.P. Morgan Global Alternatives
  • Brokers: Brett Paulsrud & Henry Schaffer - JLL
  • Loan Type: Refinance

Boylston Properties and J.P. Morgan Global Alternatives are involved as landlords in this transaction, while JLL Capital Markets played a role in facilitating the refinancing deal. The proceeds from the loan are intended to pay off a previous $100 million construction loan secured from Bank OZK in 2021.

Players

Henry Schaffer
JLL
Henry Schaffer
16 deals$1.6B volume(617) 848-5859
BROKER
Brett Paulsrud
JLL
Brett Paulsrud
20 deals$2.9B volume(617) 848-1571
BROKER
Northwestern Mutual
Northwestern Mutual
LENDER
J.P. Morgan Chase
J.P. Morgan Chase
LENDER
J.P. Morgan Chase
J.P. Morgan Chase
LANDLORD
BP
Boylston Properties
LANDLORD

Details

FINANCED
IMAGE: Brett Paulsrud & Henry Schaffer DATE: 06/21/2023 ADDRESS: 100 Forge Road MARKET: Watertown, MA ASSET TYPE: Life Sciences ~ SF: 165,600 LENDER: Northwestern Mutual (@NM_Boston) LANDLORD: Boylston Properties & J.P. Morgan Global Alternatives BROKERS: Brett Paulsrud & Henry Schaffer (@_HenrySchaffer)- JLL (@JLL) LOAN AMOUNT: $150,000,000 LOAN TYPE: Refinance NOTE: Boylston Properties and J.P. Morgan Global Alternatives have secured a $150 million refinancing for 100 Forge, a life science facility in Watertown, Massachusetts. The loan from Northwestern Mutual will be used to pay off the $100 million construction loan obtained from Bank OZK in 2021, with JLL Capital Markets facilitating the deal for the partnership.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$150,000,000.00

Monthly NOI$1,000,000.00
Monthly Debt Service$948,102.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00