PGIM Real Estate Provides $58M for Oxford Property Group’s $125 Biomanuf Buy
Oxford Properties Group has received $58 million in fixed-rate financing from PGIM Real Estate for the acquisition of 92 Crowley, a life science facility currently under construction in Marlborough, MA.
PGIM Real Estate, the real estate investment and financing business of PGIM, provided the financing on behalf of its core lending strategy. Tom Goodsite at PGIM Real Estate led the effort.
Oxford Properties Group acquired 92 Crowley through a sale-leaseback transaction with the tenant, National Resilience, a contract development and manufacturing organization specializing in cell therapies, gene therapies, nucleic acids and vaccines for customers and partners.
92 Crowley is a 120,000-square-foot, two-story facility featuring six Good Manufacturing Practice work cells with specialized HVAC, clean compressed air, comprehensive nitrogen/PH systems and multiple utility feeds.