Bedford-Labs

JLL Arranges $150M Loan for Refinancing of Metro Boston Life Sciences Facility

by Taylor Williams

BEDFORD, MASS. — JLL has arranged a $150 million loan for the refinancing of Bedford Labs, a 288,000-square-foot life sciences facility located about 20 miles northwest of Boston. Bedford Labs, which sits on a 52-acre site that can support up to 300,000 square feet of new construction, is a redevelopment of a former single-tenant office building. The facility includes a 28,000-square-foot amenity space and was fully leased to biotechnology firm Sarepta Therapeutics at the time of the loan closing. Brett Paulsrud, Tom Sullivan and Mike Shepard of JLL arranged the loan through an affiliate of Apollo Global Management. The borrower is a partnership between AEW Capital Management, Redgate and Optimum Asset Management.

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