Innovative Industrial Properties commits $245 million mezzanine loan for IQHQ’s Alewife Park life science campus in Cambridge, Massachusetts

Bitget2026/10/01 10:46

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IIP entered definitive agreements to provide USD 245 million in a mezzanine loan commitment for Alewife Park in Cambridge, Massachusetts.
Proceeds support completion, lease-up, tenant improvements, and stabilization of Phase I of the 27-acre life science campus.
About USD 111 million funded at closing, including repayment of an existing USD 85 million bridge loan.
Remaining USD 134 million expected to fund through Q4 2027, subject to draws and funding conditions.
Loan matures in February 2028 with a one-year extension option; expected interest rate about 15.8% with a 14% floor.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. IIP - Innovative Industrial Properties Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20261001936074) on October 01, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Innovative Industrial Properties commits $245 million mezzanine loan for IQHQ’s Alewife Park life science campus in Cambridge, Massachusetts

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