828 Winter Street

Morgan Stanley Acquires 828 & 830 Winter Street

Morgan Stanley has acquired the properties at 828 & 830 Winter Street in Waltham for $240 million.

828 Winter Street is located adjacent to 830 Winter Street, a 185,000-square-foot 100%-leased life science office building owned by the proponent, creating a new approximately 330,000-square-foot Waltham life science office development that will be the greater Boston area's largest multi-tenant lab campus outside of Cambridge.

$135 million financing arranged for 330,000-square-foot Waltham life science office development

King Street Properties has acquired nearly $135 million in financing for 828 and 830 Winter Street, an approximately 330,000-square-foot Waltham life science office development located just off of Route 128 that, upon full completion, will be the greater Boston area's largest multi-tenant lab campus outside of Cambridge. The funds will be used to refinance 830 Winter Street, an existing 185,000-square-foot, 100%-leased building, and construct 828 Winter Street, a 144,910-square-foot speculative building scheduled for completion in July 2018.

Holliday Fenoglio Fowler, L.P. (HFF) arranged financing for 828 and 830 Winter Street through Blackstone Mortgage Trust; the exact amount of financing is $134,767,500. “King Street saw an opportunity to capitalize on the tight suburban lab market and expand their existing Waltham property to meet the growing demand,” said HFF Managing Director Greg LaBine in a prepared statement. “Blackstone shared [King Street's] vision and provided a creative and flexible solution for lab construction financing.”

King Street breaks ground on 144,910-square-foot life science office building in Waltham

King Street Properties has broken ground on 828 Winter Street, a 144,910-square-foot speculative life science office building located in Waltham just off of Route 128. Scheduled for completion in Summer 2018 and now leasing, 828 Winter Street will feature 48,000-square-foot floor plates and will be located adjacent to 830 Winter Street, a 185,000-square-foot, 100%-leased building owned by the proponent. Together, at 330,000 square feet, the two buildings will comprise the largest multi-tenant campus outside of Cambridge.