North Star Management of Boston has obtained a $9 million loan increase for its property at 27 Drydock Ave. in the Boston Marine Industrial Park.

The eight-story, 283,000-square-foot industrial building is 94 percent leased. Major tenants include John Hancock and Dana-Farber Cancer Institute. The building also contains the shared laboratory space Drydock Labs.

Jeff Wallace, a principal at North Star, said the loan will go toward a lobby renovation and development of additional labs within the building. North Star has spent more than $10 million in the last 12 years upgrading the early 20th-century building, with new shared lab and office space, lunchrooms and conference rooms.

Holliday Fenoglio Fowler LP worked on North Star’s behalf obtaining the financing from Aetna Life Insurance Co.

"North Star has converted a significant portion of this property from warehouse/storage use to incubator lab and technology uses. Aetna has been their lending partner through this conversion process, having provided North Star with additional capital to improve the property three times during the course of the loan," said HFF Managing Director Greg LaBine in a statement.