BOSTON, MA, July 1, 2009 – The Boston and San Diego offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have arranged $350 million in financing for the Center for Life Science Boston, a 700,000+- square-foot, Class A research facility in Boston’s Longwood Medical Area.Working exclusively on behalf of BioMed Realty Trust, Inc. (NYSE: BMR), HFF senior managing director Tim Wright, (top right photo) executive managing director John Fowler (middle left photo) and director Janet Krolman (bottom right photo) placed the five-year, 7.75% fixed-rate loan with three lenders: John Hancock Life Insurance Company, TIAA-CREF and Westdeutsche ImmobilienBank AG.
Completed in 2008, the Center for Life Science Boston is located at 3 Blackfan Circle, across from Harvard Medical School and directly connected to Children’s Hospital Boston and Beth Israel Deaconess Medical Center in the Longwood Medical Area of Boston.
The property has 18 stories of laboratory and office space that is leased to Beth Israel Deaconess Medical Center, Children’s Hospital Boston, Dana-Farber Cancer Institute, Immune Disease Institute and Kowa Company, Ltd.
The property also includes a six-level, 750-space underground parking garage.
“We believe the completion of a loan transaction of this size in the current credit environment reflects the lenders’ recognition of the quality of the property, tenancy and sponsor,” said Wright.
“We believe the completion of a loan transaction of this size in the current credit environment reflects the lenders’ recognition of the quality of the property, tenancy and sponsor,” said Wright.
“We appreciate the due diligence and support of John Hancock, TIAA-CREF and Westdeutsche ImmobilienBank.”
BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on Providing Real Estate to the Life Science Industry®. 
The company’s tenants primarily include biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry.
BioMed Realty Trust owns or has interests in 69 properties, representing 112 buildings with approximately 10.5 million rentable square feet, including approximately 640,000 square feet of development in progress.
The company also owns undeveloped land parcels adjacent to existing properties that it estimates can support up to 1.4 million rentable square feet. The company’s properties are located predominantly in the major U.S. life science markets of Boston, San Diego, San Francisco, Seattle, Maryland, Pennsylvania and New York/New Jersey, which have well-established reputations as centers for scientific research.
CONTACTS:
Timothy D. Wright, Senior Managing Director, (858) 552-7690, twright@hfflp.com
Janet N. Krolman, HFF Director, (617) 338-0990, jkrolman@hfflp.com
Janet N. Krolman, HFF Director, (617) 338-0990, jkrolman@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
No comments:
Post a Comment