Thorofare Capital has provided a $50,500,000 floating-rate senior loan for the recapitalization and lease-up of Cambridgeport Labs, a newly modernized, LEED and WELL Certified life science campus totaling 56,351 square feet in East Cambridge, Massachusetts.

The Sponsor acquired the leasehold interest in 2022 and has since invested significant capital to reposition the former Class B lab facilities into turnkey-ready Class A space. The renovation included comprehensive upgrades to HVAC, electrical, life safety systems, façade improvements, roof work, and the addition of speculative lab improvements.

Loan proceeds were used to recapitalize the project, fund reserves, capitalize future leasing costs, and cover closing costs. The floating-rate, interest-only loan has an initial two-year term with extension options and flexible prepayment terms.

The Sponsor is a joint venture between a global investment management firm with more than $400 billion in AUM and a Boston-based real estate investment and development firm focused on life science, office, and mixed-use assets across the Northeast.