WORLD PROPERTY CHANNEL ®

(BOSTON, MA) -- Three big-name lenders have teamed to provide a $350 million, five-year loan for 700,000-square-foot, one-year-old Center for Life Science Boston, a Class A research facility in Boston's Longwood Medical Area.

John Hancock Life Insurance Company, TIAA-CREF and Westdeutsche ImmobilienBank AG of Germany provided the 7.75 percent fixed-rate loan.

Tim Wright

The Boston and San Diego offices of Holliday Fenoglio Fowler LP represented the borrower-developer, BioMed Realty Trust, Inc. (NYSE: BMR). The HFF team included senior managing director Tim Wright,  executive managing director John Fowler and director Janet Krolman.

"We believe the completion of a loan transaction of this size in the current credit environment reflects the lenders' recognition of the quality of the property, tenancy and sponsor," says Wright.

"We appreciate the due diligence and support of John Hancock, TIAA-CREF and Westdeutsche ImmobilienBank."

Completed in 2008, the Center for Life Science Boston is located at 3 Blackfan Circle, across from Harvard Medical School and directly connected to Children's Hospital Boston and Beth Israel Deaconess Medical Center in the Longwood Medical Area of Boston.

Janet Krolman

The property has 18 stories of laboratory and office space that is leased to Beth Israel Deaconess Medical Center, Children's Hospital Boston, Dana-Farber Cancer Institute, Immune Disease Institute and Kowa Company, Ltd.

The property also includes a six-level, 750-space underground parking garage.

BioMed Realty Trust, Inc. is a real estate investment trust focused on providing real estate to the life science Industry®. The company's tenants primarily include biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry.

BioMed Realty Trust owns or has interests in 69 properties, representing 112 buildings with approximately 10.5 million rentable square feet, including approximately 640,000 square feet of development in progress.

John Fowler

The company also owns undeveloped land parcels adjacent to existing properties that it estimates can support up to 1.4 million rentable square feet. The company's properties are located predominantly in the major U.S. life science markets of Boston, San Diego, San Francisco, Seattle, Maryland, Pennsylvania and New York/New Jersey, which have well-established reputations as centers for scientific research.

TIAA-CREF Individual and Institutional Services, LLC, and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products.


John Hancock Financial is a unit of Manulife Financial Corporation (NYSE: MFC), a leading Canadian-based financial services group serving customers in 19 countries and territories worldwide.  The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States.

---