life science

The Colliers-arranged financing underscores the push to convert office space into new uses.

The speculative Somerville, Massachusetts development is scheduled for completion in 2024.

Life sciences asset development did not lose momentum through the pandemic thanks to limited supply and a wealth of interest from lenders and investors.

The New York-based manager believes lenders will be receptive to financing new deals and rehabs in the fast-growing sector.

Colliers arranged the financing on behalf of the borrower, North River Leerink.

Boston, San Francisco and San Diego are target areas for future conversion playbook alongside select STEM-friendly markets.

Respondents see a remarkable revival for the asset class, despite economic and geopolitical headwinds.

A wave of venture capital investment, increased federal spending and tenant demand for high-quality space is putting the sector under the microscope.