Boston-based Beacon Capital Partners secured $149.2 million in financing for a life science-focused building in the Raymond L. Flynn Marine Park.
The 27 Drydock Ave. property spans 286,000 square feet. Beacon Capital acquired the 99-year ground lease, which expires in 2086, in May 2020 for $261.9 million. The property is owned by the Economic Development & Industrial Corp. of Boston.
Morgan Stanley provided the $149.2 million loan which closed on Aug. 27.
The building was completed in 2018. Current tenants include Ginkgo Bioworks, GoToKnow, Arcaea, Tomopath and MedChem Imaging, according to Commercial Property Executive, which first reported the transaction.
Gingko Bioworks first leased space at 27 Drydock in 2017 under its previous ownership, Related Beal. Last fall, the company postponed plans to occupy 260,000 square feet at The Foundry at Drydock development next door.
Beacon Capital Partners’ local life science portfolio includes the Southline complex on Morrissey Boulevard in Dorchester and the proposed 2 Harbor project, also located in the marine park.
In July, a lender submitted the high bid of $62 million at a foreclosure auction for Beacon Capital’s Wellesley Gateway, a lab conversion of the 285,435 square-foot office complex at 93 Worcester St.




