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Image courtesy of Cambridge assessors
Beverly Hills private equity firm Township Capital has joined the ownership of a 4.4-acre development parcel in Cambridge’s Quad neighborhood where Cabot, Cabot & Forbes is planning a life science development.
CC&F acquired the industrial parcel in October for nearly $50 million and is preparing to submit plans for the lab development in the growing life science cluster near the MBTA’s Alewife station.
The 67 Smith Place property currently contains a 67,000-square-foot industrial building.
“Township has provided an influx of additional capital to help us pursue a life science development at the property,” said Jacob Vance, senior development manager for Boston-based CC&F.
“This was the perfect fit for our current appetite, as the development possibilities are endless in this fast-growing neighborhood within the highly coveted city of Cambridge,” Township Capital CEO Matthew Gorelik said in a statement.
CC&F is separately preparing to submit plans for a 70,000-square-foot life science project at 180 Fawcett St., a 0.8-acre parcel in the Quad. CC&F also is in permitting for 575,000 square feet of lab space, 250 multifamily units and 6,000 square feet of ground-floor retail on a 12-acre site on Mooney Street that includes the former Mabardy Washed Sand and Gravel operation.
