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

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.