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Boston & New England  + Metro Boston  + Industrial  |  February 24, 2023
Oxford Properties Group purchased the under-construction biomanufacturing facility located at 92 Crowley Drive in Marlborough, MA for $125 million.
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By: Lisa McDuffie

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.

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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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