Tishman Speyer Secures $750M In Construction Financing For Harvard Research Campus

June 16, 2023 / no comments

Tishman Speyer landed a huge construction financing deal for the first phase of the Harvard Enterprise Research Campus in Allston. 
The developer announced Friday afternoon it secured a $750M financing package led by Otera Capital, a Montreal-based institutional lender. Tishman said this marks the largest reported deal in the U.S. this year.
Construction for the first phase is slated to begin next week, and the buildings are scheduled to open in late 2025 and early 2026. The first phase will total 900K SF across two lab buildings, a 343-unit apartment building and a hotel.
“With financing now in place, we are set to realize a collective vision for the ERC as an inclusive community driven by innovation and human…