Construction Underway at 165K-SF Life Science Project at Arsenal Yards

Boston-based developer Boylston Properties, along with joint venture partner J.P. Morgan Asset Management, have announced that construction has commenced on 100 Forge, a nine-story, 165,000-square-foot lab building at Arsenal Yards in Watertown.

Construction began in January and a $100.1 million construction loan for the project from Bank OZK was arranged by Fred Wittmann, Brett Paulsrud and Henry Schaffer of JLL Capital Markets. Cushman and Wakefield has been tapped to lease the property. The project is located adjacent to the Arsenal Yards mixed-use project, which is being developed by Boylston Properties, The Wilder Companies and J.P. Morgan.

“While generally speaking there have been some headwinds in the financing markets during the pandemic, there has been no lack of capital available for lab and life science properties,” said JLL’s Brett Paulsrud. “100 Forge is a best-in-class asset located in one of the top life sciences nodes in the country. This coupled with the strength of the sponsorship and product type, generated a significant amount of lender interest for this opportunity.”

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