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KKR Enters JV on Life Science Development in Seaport District
KKR has completed a major investment in a joint venture with WS Development and the Public Sector Pension Investment Board for 400 Summer St., a life science tower under construction in Boston’s Seaport District. Through its investment, KKR will collaborate with WS and PSP in ownership of the asset, while WS continues to lead development and management of the property.
Once completed, the 635,000-square-foot property will serve as the headquarters of Foundation Medicine, which has leased 100% of the laboratory and office space. 400 Summer St. is part of the 33-acre Boston Seaport development project led by WS.
“WS Development’s master plan project is helping position the Seaport as a destination of choice for top talent and employers,” said KKR managing director Daniel Rudin. “This is a great addition to our portfolio as we continue to grow our presence in the Boston market and the life sciences sector more generally.”
- ◦Development
- ◦Financing
