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June 22, 2023

Lab Landlords Eager To Ride Cresting Wave Of Big Pharma M&A Funding

Keynote Announced: Mayor Wu To Speak At Boston Multifamily Conference June 27

A wave of investment from large pharmaceutical companies into life sciences startups via mergers and acquisitions could result in a flood of demand in the lab real estate market for the next 18 months. 

During the first half of this year, a series of multibillion-dollar deals — Pfizer’s $43B acquisition of Seagen, a biotech focused on “revolutionizing cancer care,” Merck’s $11B acquisition of Prometheus Biosciences, and Astellas Pharma’s $5.9B pickup of Iveric Bio — has already pushed total deal volume past last year’s pace.

Lab Landlords Eager To Ride Cresting Wave Of Big Pharma M&A Funding

Travis McCready­, head of Life Sciences, Industries Americas for JLL, said there will be between $275B and $300B total in biotech M&A in 2023.A significant chunk of that total deal value will be upfront capital for…

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Fortis Property Group Buys Time On Downtown Condo Tower Sellout With $85M Bridge Loan

Fortis Property Group Buys Time On Downtown Condo Tower Sellout With $85M Bridge Loan

The Fortis Property Group has secured an $85M bridge loan secured by the unsold condominiums in the 168-unit luxury tower at 55 Lagrange St. it delivered last year.A partnership of Gatehouse Capital Partners, Fort Amsterdam Capital and Crayhill Capital Management provided the loan, collateralized by the 102 condos and…

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Boston Medical Center Plans To Redevelop Franklin Park Hospital With 400 Housing Units

Boston Medical Center Plans To Redevelop Franklin Park Hospital With 400 Housing Units

Boston Medical Center and a coalition of community organizations are planning to build over 400 units of supportive housing to combat homelessness in Boston.After issuing a request for proposals last year, Gov. Maura Healey's administration announced Wednesday it selected the BMC team's plan for the redevelopment of the…

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The Massive New Headquarters Planned For The SEC Is In Jeopardy

The Massive New Headquarters Planned For The SEC Is In Jeopardy  

The deal to build a new, 1.2M SF headquarters for the Securities and Exchange Commission in Northeast Washington, D.C. — one of the largest-ever federal government leases — is at risk of falling apart, Bisnow has learned.

The federal agency has been slated for years to move to a huge new development about a mile north of its current home next to  Union Station, but the developers behind the project have yet to secure the nearly $700M they need to start construction. Now, one of…

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