{"id":1004731006,"date":"2024-10-01T03:19:13","date_gmt":"2024-10-01T11:19:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004731006"},"modified":"2024-10-01T06:23:31","modified_gmt":"2024-10-01T14:23:31","slug":"clarion-obtains-94m-for-boston-life-science-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/clarion-obtains-94m-for-boston-life-science-property\/","title":{"rendered":"Clarion Obtains $94M for Boston Life Science Property"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/LINX-edited.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1891\" height=\"1418\" data-attachment-id=\"1004731029\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/linx-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/LINX-edited.jpg\" data-orig-size=\"1891,1418\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1527798581&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"LINX\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/LINX-edited.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/LINX-edited.jpg\" alt=\"Exterior shot of LINX, a life science building in Watertown, Mass.\" class=\"wp-image-1004731029\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/LINX-edited.jpg 1891w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/LINX-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/LINX-edited.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/LINX-edited.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/LINX-edited.jpg?resize=1536,1152 1536w\" sizes=\"auto, (max-width: 1891px) 100vw, 1891px\" \/><\/a><figcaption class=\"wp-element-caption\">The two-story LINX came online in 2018. <em>Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Clarion Partners has received a $94 million, five-year refinancing loan through Soci\u00e9t\u00e9 G\u00e9n\u00e9rale for LINX, a 185,015-square-foot life science building in Watertown, Mass. JLL Capital Markets arranged the deal.<\/p>\n\n\n\n<p>The loan replaces a 10-year, $86 million note from Metropolitan Life that Clarion used to acquire the Class A asset in August 2018, according to information from CommercialEdge.<\/p>\n\n\n\n<p>LINX is a two-story property that\u2019s fully leased to three tenants: C4 Therapeutics, Addgene and Tectonic Therapeutic. Amenities include a grab-and-go caf\u00e9, indoor bike storage for 78 bicycles, a 24\/7 locker room with showers and a bocce court, as well as 1 acre of green space.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/qa-with-jlls-schoneman-on-life-science-investment-drivers\/\">Q&amp;A With JLL\u2019s Schoneman on Life Science Investment Drivers<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The building came online in 2018 on a 10-acre campus, being surrounded by walking and biking paths. The property also features a two-story, 195-space parking garage with 12 electric car charging stations.<\/p>\n\n\n\n<p>LINX is at 490 Arsenal Way in Watertown\u2019s East End life science cluster. It\u2019s close to Arsenal Yards, a mixed-use lifestyle redevelopment of the former Arsenal Mall, and adjacent to the Target-anchored Watertown Mall. The location also has convenient access to downtown Boston, Logan Airport and the surrounding suburbs via the Massachusetts Turnpike\/Interstate 90.<\/p>\n\n\n\n<p>JLL Executive Managing Director Riaz Cassum, Managing Director Amy Lousararian and Vice President Robyn King led the Debt Advisory team representing Clarion. The Soci\u00e9t\u00e9 G\u00e9n\u00e9rale team was led by Managing Director Tim Hallock.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-brighter-in-boston\">Brighter in Boston<\/h2>\n\n\n\n<p>Most major U.S. life science markets have been seeing a worsening supply-demand imbalance over the past year, with nationwide lab availability rising to 30 percent and rents falling by almost 9 percent, according to a <a href=\"https:\/\/www.commercialsearch.com\/news\/life-science-sector-faces-challenges-yet-recovery-is-in-sight\/\">JLL report<\/a>. Among the bright spots, however, was metro Boston, where demand is about even with what was seen in 2019.<\/p>\n\n\n\n<p>Only a few weeks ago, a joint venture of AEW Capital Management, Redgate and Optimum Asset Management <a href=\"https:\/\/www.commercialsearch.com\/news\/aew-capital-jv-lands-150m-refi-for-life-science-building\/\">secured a $150 million refinancing<\/a> for Bedford Labs, a 288,000-square-foot, newly converted life science facility in Bedford, Mass. That deal was also arranged by JLL Capital Markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JLL arranged the refinancing through a Europe-based financial services company.<\/p>\n","protected":false},"author":882,"featured_media":1004731029,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21825,21742,10,21747],"tags":[32790,32796],"class_list":["post-1004731006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-finance","category-latest","category-northeast","category-office","tag-clarion-partners","tag-jll"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Clarion Obtains $94M for Boston Life Science Property - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Clarion Partners has received a $94 million loan through Soci\u00e9t\u00e9 G\u00e9n\u00e9rale for LINX, a Class A life science building in Watertown, Mass.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/clarion-obtains-94m-for-boston-life-science-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Clarion Obtains $94M for Boston Life Science Property\" \/>\n<meta property=\"og:description\" content=\"Clarion Partners has received a $94 million loan through Soci\u00e9t\u00e9 G\u00e9n\u00e9rale for LINX, a Class A life science building in Watertown, Mass.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/clarion-obtains-94m-for-boston-life-science-property\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-01T11:19:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-01T14:23:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/LINX-edited.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1891\" \/>\n\t<meta property=\"og:image:height\" content=\"1418\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/clarion-obtains-94m-for-boston-life-science-property\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/clarion-obtains-94m-for-boston-life-science-property\/\",\"name\":\"Clarion Obtains $94M for Boston Life Science Property - 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