The RMR Group landed a huge financing deal for its Fan Pier life sciences and office campus in the Seaport. The Newton-based investment firm obtained a $1B refinancing loan for the 1.1M SF life sciences and office campus, which it owns in a joint venture with Diversified Healthcare Trust. Morgan Stanley, Bank of Montreal, Goldman Sachs, and JPMorgan Chase issued the five-year, fixed-rate note. The majority of the refinancing will pay off the property's $620M CMBS loan that was set to mature next year. The refinancing comes a year after Vertex Pharmaceuticals and 11 Fan Pier Blvd. agreed to occupy the space until 2044. The site has acted as the pharma company's headquarters since 2014.\n\nNorfolk, Virginia-based Harbor Group International is under contract to buy five multifamily properties from Aimco totaling 2,719 units in Massachusetts, New Hampshire, and Rhode Island. The portfolio includes three Massachusetts properties: Waterford Village in Bridgewater, Wexford Village in Worcester, and Royal Crest Estates Marlboro in Marlborough.\n\nDestination XL Group signed a 674K SF industrial lease renewal at 555 Turnpike St. in Canton. The property serves as the national headquarters and central distribution hub for the retailer of men's big and tall apparel. Cushman & Wakefield’s Pete Whoriskey, Scott Gredler, and George O'Connor represented the tenant.\n\nHebrew Seniorlife was awarded state funding for the development of a 96-unit senior housing project in Stoughton. The funding amount wasn’t disclosed, but it came from a $182M initiative from the Healey administration to build more affordable housing. The development is set to begin construction in 2026 and complete the project in 2027.\n\nUrban Edge Properties closed for a portion of the Shoppers World retail center in Framingham. The loan was swapped and converted to a fixed interest rate and will be used to pay off the $90M balance on the company’s credit line. The 752K SF property is anchored by T.J. Maxx, Marshalls, HomeSense, and Sierra Trading.\n\nBialow Real Estate promoted Brett Groper and Anthony Genovese to senior vice president. Groper, based in Boston, will lead the company’s restaurant and retail leasing nationwide. He helped lease more than 60K SF of “eatertainment” space in the Seaport. Genovese will lead and grow the company’s Chicago office.\n\n2Life Communities named Denise McQuaide as chief of middle-market innovation. McQuaide has served as 2Life’s strategic adviser for four years. In this new role, McQuaide will be responsible for expanding the company's middle-market senior business, including the Opus from 2Life Communities brand.\n\nQuincy Mutual Fire Insurance Co. filed plans to replace a vacant storefront and adjacent parking lot with 100 housing units. The project includes a five-story building that would replace the former Sully's bar, which closed in 2018. The parcels at 12-18 Chestnut St. consist of a surface parking lot and two vacant commercial buildings.\n\nProcopio Cos. announced the topping out of 57 Main St. in downtown Marlborough. The six-story, 92-unit multifamily development also includes 3K SF of ground-floor retail as well as a large courtyard. Procopio partnered with The Architectural Team and Angus Construction.

Life Sciences Complex Lands $1B Refinancing: The Boston Deal Sheet (August 11, 2025)

The RMR Group secured a $1 billion refinancing loan for its Fan Pier life sciences and office campus in Newton, Massachusetts, in a joint venture with Diversified Healthcare Trust. The five-year, fixed-rate note was issued by Morgan Stanley, Bank of Montreal, Goldman Sachs, and JPMorgan Chase, primarily to repay a $620 million CMBS loan set to mature the previous year. The property has served as the headquarters for Vertex Pharmaceuticals since 2014, with the company agreeing to occupy the space until 2044. Additionally, Norfolk-based Harbor Group International is under contract to acquire five multifamily properties from Aimco across Massachusetts, New Hampshire, and Rhode Island. Destination XL Group renewed its lease at 555 Turnpike St. in Canton for its national headquarters and distribution hub. Hebrew Seniorlife received state funding from the Healey administration for a 96-unit senior housing project in Stoughton, set to begin in 2026 and complete in 2027. Urban Edge Properties completed a loan swap for its Shoppers World retail center in Framingham, using the proceeds to pay off a $90 million credit line. Bialow Real Estate promoted Brett Groper and Anthony Genovese to senior vice president roles. 2Life Communities named Denise McQuaide as chief of middle-market innovation to expand its senior housing business. Quincy Mutual Fire Insurance Co. filed plans to replace a vacant storefront at 12-18 Chestnut St. in Quincy with 100 housing units. Procopio Cos. topped out a 92-unit multifamily development at 57 Main St. in Marlborough, which includes ground-floor retail and a courtyard.