Keystone Development + Investment has secured a $265M loan from Nuveen Real Estate to expand its conversion of Philadelphia's landmark The Curtis into life science lab space.
The financing from Nuveen, an affiliate of Teachers Insurance & Annuity Associates of America, will enable the developer to convert another 200K SF to lab space at the former home of Curtis Publishing, which published of the Saturday Evening Post.
A portion of the funding will be allocated to infrastructure upgrades and leasing costs at The Curtis, according to a release from Keystone.
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