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Stephen A. Schwarzman Of Blackstone Secures $1.63B Refinance For University Park At MIT Campus
FINANCED
$1,630,000,000
Massachusetts
See Similar DealsLife Sciences1,300,000 SF
Financed 08/12/2025
FINANCED
Stephen A. Schwarzman Of Blackstone Secures $1.63B Refinance For University Park At MIT Campus
38 Sidney Street
See Similar DealsLife Sciences1,300,000 SF
Financed 08/12/2025
Summary
MASSACHUSETTS
Asset Type:Life Sciences
Price Per Square Foot:$1,253
Total Square Footage:1,300,000 SF
Transaction Type:Loan
The property asset involved is a life science facility located at 38 Sidney Street in Cambridge, MA. This asset comprises a total of 1,300,000 square feet and is associated with a refinancing transaction amounting to $1,630,000,000.
Summary of transaction details:
- Property Type: Life Science
- Transaction Amount: $1,630,000,000
- Lender: J.P. Morgan Chase, Goldman Sachs, German American Capital Corp., & Société Générale
- Landlord: Stephen A. Schwarzman - Blackstone
- Loan Type: Refinance
This transaction involved Blackstone-owned BioMed, which secured a $1.63B refinancing for its University Park at MIT campus, backed by $305 million of its own equity.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,630,000,000.00
Monthly NOI$10,866,666.67
Monthly Debt Service$10,302,708.78
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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