Bank of China contributes to a $315 million USD syndicated construction loan for the FORUM Project

Project narrative

On December 8, 2022, a two-bank syndicate — the New York Branch of the Bank of China (BOC) as lead bank and another lender — entered into a $315 million USD construction loan agreement with an unspecified borrower — jointly owned by Canadian real estate company Ivanhoé Cambridge Inc. and by Australian multinational construction and real estate company Lendlease Corporation Limited — for the FORUM Project. The loan was secured by (i.e. collateralized against) a mortgage on the FORUM. The proceeds were used by the borrower to finance the construction of the FORUM, a 165-foot tall nine-story tower and life science lab (60% lab space, 40% office solace) complex with 320,000 square feet (50,000-square-foot flexible floorplates), 7,000-square-foot terrace with cabanas and grilling stations (with room for retail or restaurant space), an art gallery on the first floor, and 340 parking spaces in an underground garage with electric vehicle (EV) charging stations and storage for 146 bicycles located on a 1.2-acre site at 60 Guest St. (also known as 125 Guest St.) between Interstate 90 and North Beacon Street, roughly 6 miles west of downtown Boston and part of the Boston Landing mixed-used development in the Allston–Brighton neighborhood of Boston, Massachusetts. FORUM included sustainability features to achieve net-zero operation. Consigli Construction Co. was the general contractor. SGA was the architecture firm. The developers bought the parcel for $67 million USD in 2020. The Boston Planning & Development Agency issued a building permit in October 2020. The project began construction in October 2022. The project was scheduled for completion in 2024. The building was topped off in September 2023. The project was completed on June 6, 2025.