Bank OZK Supplies $246M Construction Loan for Boston-Area Life Sciences Project
A joint venture between Leggat McCall Properties, DLJ Real Estate Capital Partners and Deutsche Finance America has secured $246 million in construction financing to erect a new life sciences development in metropolitan Boston, Commercial Observer has learned.
Bank OZK provided the five-year loan for the developer’s 808 Windsor project at 808 Windsor Street in Somerville, Mass., that will offer 346,000 square feet of lab space and 7,000 square feet of retail. The property is part of the JV’s Boynton Yards master plan, which calls for up to 1.4 million square feet of development and is home to another life sciences development, completed this year at 101 South Street.
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