$139,000,000 Construction Financing
Altman Warwick arranged a construction loan for the ground-up development of a 13-story, 508,000 sf bio-science lab and office building and structured parking facility located in New Haven, Connecticut. Located adjacent to Yale University Medical School, the building serves as the world headquarters for Alexion Pharmaceuticals and is one of the most technologically advanced life science / lab buildings in the country. Despite the challenges inherent in sourcing a lender to finance a high dollar per square foot loan on a hyper-improved vertical lab building in a small and unestablished office mar¬ket, Altman Warwick was able to negotiate exceptionally high loan proceeds representing a LTC in excess of 90%. Further, the loan was non-recourse to the developer and was placed with one of the premier construction lenders in the country.