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Newmark Completes $1.5B Recapitalization of Life Science Campus in Fenway
Newmark has secured the $1.5 billion recapitalization of 401 Park / 201 Brookline, a 1.5 million-square-foot urban mixed-use life science campus located in the Fenway submarket of Boston.
The campus is comprised of three components situated on nearly nine acres of land, including 401 Park Drive, an existing 973,145-square-foot office and retail tower; 201 Brookline Avenue, a 510,116-square-foot laboratory/office/retail tower that is currently under construction and potential for an additional phase of commercial development. The campus is located next to an MBTA Green Line station.
Robert Griffin, Edward Maher, Matthew Pullen, Frank Nelson, Michael Greeley and Samantha Hallowell of Newmark’s Capital Markets Group represented the seller, a joint venture between institutional investors advised by J.P. Morgan Global Alternatives and Samuels & Associates. The buyer was not disclosed.
Samuels & Associates retains a minority interest in the campus and will continue to operate, lease and lead development activities for the site in conjunction with the majority owner.
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- ◦Development
