- Newmark ( NASDAQ: NMRK ) arranges $514M in construction financing for Phase I of Assembly Innovation Park, a 485,000-square-foot life science tower that is under development by BioMed Realty in Somerville, Massachusetts.
- The financing for Phase I of Assembly Innovation Park is one of Greater Boston's first "green loans."
- The project broke ground in January 2022 and is expected to deliver in the second quarter of 2024.
- The financing for Phase I of Assembly Innovation Park is among $4B+ in recent and active life science transactions by Newmark's Boston Debt & Structured Finance group.
- This track record began in December 2020 with the group's arrangement of $404M in financing for 601 Congress, a 482,000-square-foot office-to-laboratory conversion in Boston's Seaport District, also on behalf of BioMed Realty.
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Newmark gets $514M in construction financing for Phase I of Assembly Innovation Park in Somerville, Massachusetts