DLA Piper represented an affiliate of Davis Marcus Partners in the US$345 million refinancing of its existing debt on a 400,000-square-foot medical and research building located at 185 Cambridge Street in Boston, adjacent to Massachussetts General Hospital. Davis Marcus Partners is a joint venture of The Davis Companies and Marcus Partners, two premier real estate investment, development and management firms.

The transaction involved the issuance of a US$245 million mortgage loan from UBS Real Estate Securities Inc. and a US$100 million mezzanine loan from Teachers Insurance and Annuity Association of America (TIAA). The affiliate of Davis Marcus Partners will use the money to pay off a loan from 2007.

The property is currenlty 100 percent leased to Massachusetts General Hospital and is centrally located in Charles River Plaza, an office and retail complex that is a former urban renewal project that Davis Marcus redeveloped in 2003.

Richard Rudman and Geoff Howell, partners in DLA Piper's Boston office, led the team representing the affiliate of Davis Marcus. The team also included: Katie Burgener, Paul Momnie, Primo Fontana and Emma Yashar (all Boston) and Mark Friedman (Baltimore).