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Liberty Bank Provides $22M for Winchester Works

Photo courtesy of Sylvester Zawadzki

A life science development that attracted its first biotech lease in November has obtained $22 million in financing from Liberty Bank.

The 143,000-square-foot Winchester Works project in Prospect Hill is a joint venture of L+M Development Partners, Twining Properties and the Goldman Sachs Urban Investment Group. The former office complex was originally the Winchester Repeating Arms factory and later converted into office space.

The current owners are overhauling the common areas and rooftop amenities along with preparing lab-ready space for tenants. In November, Halda Therapeutics committed to a 9,800-square-foot lease for office and lab space in the complex with plans to relocate in the first quarter of 2021.

Greystone Capital Advisors sourced the three-year floating rate loan from Liberty Bank.

JLL represents ownership in leasing.