A $750 million package arranged by JLL's Capital Markets group represents one of the country's largest construction loans closed so far this year. It will help to initiate delivery for a mixed-use development, Enterprise Research Campus, in Allston, Mass., near Harvard University, bringing together staff from various professions. JLL worked on behalf of developer Tishman Speyer to secure the construction financing led by Otera Capital.

The initial building will feature a 345-unit multi-housing building, a hotel, conference center that Harvard will operate and two laboratory buildings that Breakthrough Properties will develop. Those will represent a joint venture between Tishman Speyer and Bellco Capital. 

According to Harvard's site, the property will become a non-institutional center for innovation, collaboration and entrepreneurship within Boston and the region. The land on which it will be built was an industrial rail yard and will be transformed also into a green, pedestrian-friendly area, bringing together both business, research and people from different professions.