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Boston Landing Labs Get $315M in Financing

By Steve Adams | Banker & Tradesman Staff | Dec 30, 2022 | Reprints | Print

Image courtesy of SGA

A 320,000-square-foot Brighton lab complex that broke ground in October received $315 million in construction financing from Bank of China.

Developers Lendlease and Ivanhoe Cambridge bought the 60 Guest St. parcel in 2020 and received approval for a 9-story lab complex facing the Massachusetts Turnpike.

Bank of China’s New York branch provided a $315 million construction loan on Dec. 8, according to a Suffolk County Registry of Deeds mortgage.

Designed by SGA, the 165-foot-tall tower also includes 8,000 square feet of retail or restaurant space and 340 underground parking spaces.

Lendlease and Montreal-based Ivanhoe paid $67 million for the development parcel, which sits next to the Massachusetts Turnpike between two buildings anchored by the Boston Celtics and Boston Bruins training facilities.

Developers received a building permit for the project in October, according to the Boston Planning & Development Agency.

B&T Daily