Leggat McCall Properties JV receives $246m for life sciences project in Somerville, Mass.

A partnership between Leggat McCall Properties, DLJ Real Estate Capital Partners and Deutsche Finance America has plans to develop 808 Windsor, a to-be-built, state-of-the-art life sciences development totaling 353,000 square feet in Somerville, Mass.

JLL Capital Markets worked on behalf of the borrower in arranging $236 million in construction financing.

The 808 Windsor development will consist of an 11-story, state-of-the-art facility that will offer 346,000 square feet of lab space, 7,000 square feet of retail and 242 below-grade parking spaces. The property is part of the developer’s Boynton Yards Master Plan, which is currently programmed for up to 1.35 million square feet of development and is home to 101 South St., the first project within the master plan to be completed this year. The life sciences space at 101 South St. is fully leased to four life sciences companies within Flagship Pioneering’s portfolio.

808 Windsor is positioned adjacent to the n