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Clarion Scores $94M Refi on Watertown Life Sciences Property
JLL Capital Markets secured a $94-million refinancing for LINX, a 185,015-square-foot, Class A life sciences building in Watertown, MA. A JLL team led by Riaz Cassum, Amy Lousararian and Robyn King worked on behalf of Clarion Partners to secure the five-year loan through Société Générale, whose team was led by managing director Tim Halloc.
“Despite the recent softening in the life sciences market, Watertown’s East End, where LINX is located, remains a key life sciences cluster,” Cassum said. “Ongoing investment and redevelopment in the immediate vicinity by several major institutional investors validates this submarket’s presence on the national life sciences stage.”
Completed in 2018 and located at 490 Arsenal Way in Watertown, LINX is a fully leased to three tenants: C4 Therapeutics, Addgene and Tectonic Therapeutic. The property is near Arsenal Yards, a mixed-use lifestyle redevelopment of the former Arsenal Mall, and is adjacent to the Target-anchored Watertown Mall.