We’re proud to share that 500 Forge, our state-of-the-art life science building in the heart of Arsenal Yards, has successfully closed on $119.2 million in refinancing. JLL Capital Markets represented our team alongside our partners, institutional investors advised by J.P. Morgan Asset Management, to secure a $94 million senior loan from Landesbank Baden-Württemberg and a $25.2 million mezzanine loan from Tishman Speyer Properties, L.P.

Our president Mark Deschenes put it best: “Securing this refinancing in today’s challenging life science capital markets speaks to the strength of our asset, the caliber of our tenancy, and the long-term vision we share with our partners. 500 Forge is a cornerstone of our growing life science campus at Arsenal Yards, and we’re proud to continue delivering best-in-class lab space that meets the evolving needs of the industry’s leading innovators. We’re grateful for LBBW and Tishman Speyer’s partnership on this collaborative transaction, and shared belief in the lasting strength of this asset and the broader campus.”

Completed in 2023, 500 Forge is fully leased on a long-term basis to Novartis subsidiary Mariana Oncology, Orna Therapeutics and AvenCell Therapeutics.  The three-story building features a mix of lab and office space, with 15-18-foot ceiling heights, covered parking, and outdoor balconies.

500 Forge is located in East Watertown, a suburban lab cluster anchored by Arsenal Yards, bordering West Cambridge and Allston with proximity to the region’s leading research institutions, venture capital funding sources, and highly educated workforce.  In the heart of the Arsenal Yards mixed-use campus, the building joins 100 Forge and 200 Arsenal Yards Blvd in a dynamic ecosystem of innovation, top-tier lab infrastructure, and built-in lifestyle amenities. The 1M+ square foot campus features over 50 curated restaurants, retailers, and boutique fitness studios, creating a vibrant, employee-friendly environment that helps companies attract and retain top talent.