Updated Aug 13, 2025
Stephen A. Schwarzman Of Blackstone Secures $1.63B Refinance For University Park At MIT Campus
38 Sidney Street
$1,630,000,000
$1,253/SF
Building Size
1,300,000 SF
Asset Type
Life Sciences
Closing
Aug 12, 2025
About this deal
AI
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.
Players
Cambridge Life Sciences Market Snapshot
Boundary boundary · Life Sciences · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.01%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93