22 Drydock Avenue
Update
04/04/24
Boston Real Estate Inclusion Fund Launches Investment Offering on Small Change Crowdfunding Platform
Small Change, an investment crowdfunding platform for real estate development with social impact, and Boston Real Estate Inclusion Fund (BREIF), an investment fund created by Black Boston developers, announce an investment opportunity in a $400M life sciences building at 22 Drydock Avenue in Boston’s Seaport District. Potential investors can use the Small Change portal to learn about the project and make investments.
Related Beal is developing the 344,000-square-foot property, which will be Boston’s first life sciences building to achieve LEED Platinum and net-zero carbon emissions. The property is nearly 100% pre-leased to Vertex Pharmaceuticals, a Fortune 100 pharmaceutical company. Construction is slated to begin this spring.
According to BREIF, the project is noteworthy not only because of its prominent sponsor and ambitious environmental goals, but also because of its focus on diversity and inclusion. To support this focus, BREIF is partnering with Basis Investment Group (BIG), a minority and woman-owned business enterprise. BIG has made an indirect minority equity investment in the project and is enabling the syndication of several million dollars of its equity investment to individuals, with dedicated outreach to BIPOC and female investors.
“We are proud to be included in this project and to offer qualified, accredited investors of different backgrounds the opportunity to achieve investment returns typical of a ground-up development in a key life sciences submarket, with a developer of Related Beal’s caliber, along with the benefit of Vertex’s lease commitment,” says Richard Taylor, partner at BREIF.
Eve Picker, founder and CEO of Small Change, adds that she is equally proud to host the offering on the Small Change platform. “22 Drydock exemplifies impact,” she states. “It is fully aligned with our mission.”
To learn more about the offering, please view the listing details at https://www.smallchange.co/projects/22-Drydock.
