Cambridge Crossing has secured a $341 million refinancing loan to support its lab facilities. This financing aims to enhance development and operations at the site, reflecting confidence in the growing demand for life sciences real estate.
DivcoWest secured a $341.3 million refinancing loan from KKR for its 441 Morgan Ave. lab development at Cambridge Crossing, a mixed-use campus. The facility, completed in 2024, includes 372,000 square feet of lab space with 309,000 square feet available for lease and is partially occupied by Astellas Pharma Inc.
This refinancing indicates strong confidence in the life sciences real estate sector, highlighting the growing demand for lab spaces in Cambridge, a key market for biotech and pharmaceutical companies.
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Bisnow reports on DivcoWest securing a $341.3 million refinancing loan from KKR for its lab development at Cambridge Crossing. The facility, located at 441 Morgan Ave., offers 372,000 square feet of lab space, with 309,000 square feet available for lease. Astellas Pharma Inc. occupies 62,000 square feet. The project, part of a 43-acre mixed-use campus, was completed in 2024. The campus includes other life sciences tenants like Bristol Myers Squibb and AbbVie. DivcoWest previously paused multifamily projects due to cautious lending practices. The refinancing underscores confidence in the life sciences sector.
This source provides a comprehensive overview of the refinancing deal, including the strategic importance of the Cambridge Crossing location and the involvement of major tenants. It highlights the broader implications for the life sciences real estate market.
The refinancing deal signals a bullish outlook for the life sciences real estate market in Cambridge.
bisnow.com
In 2021, DivcoWest broke ground on the Cambridge Crossing lab project with a $401 million construction loan from KKR. The project was completed in 2024. On April 7, 2026, DivcoWest secured a $341.3 million refinancing loan from KKR to support the lab facilities at 441 Morgan Ave. [bisnow.com]
End of Intelligence Report ยท 2 Sources Verified