JLL Capital Markets hit a $750M home run that will allow ground to break on a 900,000sq ft site that will be the first phase of a mixed-use centre not far from Fenway Park.
Developed by Breakthrough Properties – a joint venture of Tishman Speyer and BellCo Capital–the Enterprise Research Campus will comprise a 345-unit apartment building, a hotel, retail, laboratory buildings, and a conference centre operated by Harvard University.
The centre will be built in Boston’s Allston neighbourhood near the Harvard Business School and the Harvard Science and Engineering Complex. According to JLL, the financing package granted by Otera Capital is one of the largest construction loans awarded so far this year.
“The project will not only attract the world’s most innovative companies but will also have direct access to the unparalleled talent pool generated by Harvard, MIT, and the many other prestigious institutions surrounding the area,” said Brett Paulsrud, a senior managing director of JLL Capital Markets.
