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Square Mile Capital Management LLC has provided a construction loan to convert the Three Burlington Woods office building in Burlington, MA into a life-science facility.

Square Mile Capital Originates Loan for Office-to-Conversion in Burlington

Square Mile Capital Management, LLC, has originated a construction loan to finance the life sciences conversion of Three Burlington Woods, a 175,000-square foot office building in Burlington, MA. The loan was made to an affiliate of GI Partners.

 “This transaction resulted from a compelling opportunity to provide financing to an experienced sponsor in a market with strong life sciences fundamentals,” said David Greenburg, principal of Square Mile Capital. “We expect to be well received by the market upon completion of conversion due to Burlington’s low vacancy, high net absorption, and investors’ continued investment in the life sciences space.”

Three Burlington Woods is situated in campus setting along the Route 128 / I-95 life sciences corridor, 15 miles from Cambridge. The property will feature lab infrastructure, flexible floorplates of approximately 41,000 square feet each and a pre-built lab component. Completion is expected by the end of 2023.

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Square Mile Capital Management's Greenburg

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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