Innovative Industrial Properties commits $245 million mezzanine loan to IQHQ affiliates for Alewife Park life science campus
Bitget2026/10/01 10:46- Innovative Industrial Properties entered definitive agreements to provide a USD 245 million mezzanine loan commitment to IQHQ affiliates for Alewife Park.
- Financing supports completion, lease-up, tenant improvements, and stabilization of Phase I of the Cambridge, Massachusetts life science campus.
- About USD 111 million funded at closing to repay a USD 85 million bridge loan, with USD 134 million expected to fund through Q4 2027.
- Loan expected to yield about 15.8% over the term, subject to a 14% floor; maturity in February 2028 with a one-year extension option.
- IIP can buy other mezzanine lender’s notes, raising its investment by up to USD 155 million; funding planned from cash and revolver borrowings.
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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