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Boston & New England  + Metro Boston  + Office  |  December 22, 2021
808 Windsor life science building in Sommerville, MA
Lisa McDuffie
By: Lisa McDuffie

Demand for Life Science Space Supports $246M Loan for Somerville Project

JLL Capital Markets has arranged $246 million in construction financing for 808 Windsor, a to-be-built life sciences development totaling 353,000 square feet in Somerville, MA. A five-year loan was secured through Bank OZK on behalf of the borrower, a partnership between Leggat McCall Properties, DLJ Real Estate Capital Partners and Deutsche Finance America.

The 808 Windsor development will consist of an 11-story facility that will offer 346,000 square feet of lab space, 7,000 square feet of retail and 242 below-grade parking spaces. The property is part of the developer’s Boynton Yards Master Plan, which is currently programmed for up to 1.35 million square feet of development geared toward life science.

808 Windsor is positioned adjacent to the newly developed Union Square MBTA Green Line Station and less than one mile from Cambridge’s Kendall Square, the epicenter of Boston’s life sciences industry.

 The JLL team representing the borrower was led by Brett Paulsrud and Henry Schaffer.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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