$193M Build Loan Initiates Life Science Development in Somerville’s Brickbottom
Colliers has arranged $192.5 million in construction financing for 100 Chestnut Street, a life science development totaling approximately 200,000 square feet in the Brickbottom District of Somerville, MA.
Colliers secured the construction loan on behalf of the borrower, North River Leerink, from an affiliate of Square Mile Capital Management, LLC. (North River Leerink is a life science and healthcare real estate-focused joint venture between North River Company and Leerink Development.) The Colliers team representing the borrower included Jeff Black, Kevin Phelan, Sean Burke and Bryan Koop.
When delivered in the summer of 2023, the four-story Gensler-designed life sciences facility at 100 Chestnut will feature 200,164 rentable square feet of Class A lab and office space plus square feet of ground floor retail. 100 Chestnut is the first life science building to break ground within North River Leerink’s 4.46-acre mixed-use campus in the Brickbottom District.
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.