Redgate, Optimum and AEW to Redevelop Life Science Lab in Bedford, MA
$82.2M secured for Bedford MA property
Redgate, Optimum Asset Management and AEW Capital Management secured $82.2 million in financing for a 166,000 square foot Class A office asset at 14 Oak Park Drive in Bedford, MA. The property is being repositioned for lab and life science uses.
Cushman & Wakefield’s Boston Equity, Debt & Structured Finance team of Tom Sullivan and Ross Fishman represented the new owner in the procurement of acquisition and redevelopment financing
The loan was provided by Ares.
“14 Oak Park Drive’s elite sponsorship and ideal location in a top-rated life science cluster makes it well-positioned to capitalize on the current market’s demand for lab and life science space,” said Sullivan.
The property is located less than five minutes from Route 3 providing access to the surrounding neighborhoods. The District, 3rd Avenue and Burlington Mall are all located within a 15-minute drive of the property, providing tenants with an array of retail, dining and entertainment options.