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Lab Conversion of Weston Office Campus Gets $150M Loan

Image courtesy of Gensler

The conversion of a former Liberty Mutual office property in Weston into a three-building life science campus received $150 million in construction financing.

Boston-based Greatland Realty Partners and Rockwood Capital are redeveloping the vacant two-building office park on Riverside Road near Route 128. Riverside Labs will include three buildings totaling 340,000 square feet.

Newmark’s debt and structured finance group represented the developers and procured the lender, Royal Bank of Canada.

Greatland acquired the property from Liberty Mutual in 2020 for $26 million. The first lab building is scheduled for tenant occupancy in summer 2023.

B&T Daily