BOSTON, MA – A joint-venture partnership between King Street Properties, Brookfield and Mugar Enterprises has secured $585 million in construction financing for a mixed-use development in Boston, MA.
The 580,905-square-foot project, titled Allston LabWorks, will comprise 534,000 square feet of life science lab space, 20,000 square feet of retail space, 35 multifamily units, and a 12,000-square-foot public plaza that will feature 5,000 square feet of landscaped open space and a 668-space parking garage. A portion of the multi-housing units will be affordable.
The four-year, floating-rate loan was arranged by JLL's capital markets group through an institutional debt fund. The JLL team that represented the borrower was led by managing director Greg LaBine and director Amy Lousararian.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
