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JLL has arranged $585 million in construction financing for Allston LabWorks in Boston, MA.

JLL Secures $585M Construction Financing for Allston LabWorks in Boston

JLL has arranged $585 million in construction financing for a mixed-use project consisting of Allston LabWorks, 580,905 square feet of life sciences, retail and multi-housing space in the Allston neighborhood of Boston, MA.

Greg LaBine and Director Amy Lousararian of JLL worked on behalf of the borrower— a joint venture between King Street Properties, Brookfield and Mugar Enterprises — to secure the four-year, floating-rate loan through an institutional debt fund.

Once completed, Allston LabWorks will consist of 534,000 square feet of lab space; 20,000 square feet of retail space; 35 multi-housing units (26% of which will be affordable) as well as a 12,000-square-foot public plaza with an additional 5,000-square-foot landscaped open space and 668 garage parking spaces.

The project, which is located on 4.27 acres on Western Avenue, is adjacent to Harvard University’s 350-acre Allston campus, which is home to the newly opened John A. Paulson School of Engineering and Applied Sciences.

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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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