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JLL Arranges $230M Construction Loan for Life Sciences Project in Somerville, Massachusetts

15-McGrath-Highway-Somerville

The site of the new life sciences project at 15 McGrath Highway in Somerville abuts the recently extended Somerville Community Path for bikes and pedestrians.

SOMERVILLE, MASS. — JLL has arranged a $230 million construction loan for 15 McGrath Highway, a 262,000-square-foot life sciences project that will be located in the northern Boston suburb of Somerville. The nine-story, transit-served facility will include commercial space and below-grade parking. Completion is slated for late 2024. Brett Paulsrud, Henry Schaffer and Mike Shepard of JLL arranged the nonrecourse loan on behalf of the borrower,  a partnership between DLJ Real Estate Capital Partners, Leggat McCall Properties and Deutsche Finance America. Oxford Properties Group provided the financing.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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