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Vertex' $2.7B in CRE Value

WASHINGTON DC 03.16.2017


Investing in 2017, Hot Markets, and the Ever-Changing Capital Stack

Mark Hertz -- AIG Global Real Estate
Sujan Patel -- Colony NorthStar
Joe Carter -- Wells Fargo
Vertex' $2.7B in CRE Value
Vertex groundbreakinbg
Can you pick anyone out through the confetti? Vertex Pharmaceuticals is generating $2.7B in real estate activity at Fan Pier with the $900M, 1.1M SF build-to-suit complex that The Fallon Company started building for it in June. Add to that the lease  payments (as much as $1.8B-plus operating costs over 15 years)and it's easy to see why the summer groundbreaking looked and felt more like New Year?s Eve. The life science company's relo from its longtime Cambridge HQ has also infused confidence among other developers who have a few billion dollars more in projects in the works at the Seaport.