Equity Raise for $400M Life Sciences Building In Boston Seaport Focuses on BIPOC Investors
BOSTON, April 04, 2024–(BUSINESS WIRE)–Small Change, an investment crowdfunding platform for real estate development with social impact, and Boston Real Estate Inclusion Fund (BREIF), an investment fund created by Black Boston developers, announce an investment opportunity in a $400M life sciences building at 22 Drydock Avenue in Boston’s Seaport District. Potential investors can use the Small Change portal to learn about the project and make investments.
Related Beal is developing the 344,000-square-foot property, which will be Boston’s first life sciences building to achieve LEED Platinum and net-zero carbon emissions. The property is nearly 100% pre-leased to Vertex Pharmaceuticals, a Fortune 100 pharmaceutical company. Construction is slated to begin this spring.
According to BREIF, the project is noteworthy not only because of its prominent sponsor and ambitious environmental goals, but also because of its focus on diversity and inclusion. To support this focus, BREIF is partnering with Basis Investment Group (BIG), a minority and woman-owned business enterprise. BIG has made an indirect minority equity investment in the project and is enabling the syndication of several million dollars of its equity investment to individuals, with dedicated outreach to BIPOC and female investors.
“We are proud to be included in this project and to offer qualified, accredited investors of different backgrounds the opportunity to achieve investment returns typical of a ground-up development in a key life sciences submarket, with a developer of Related Beal’s caliber, along with the benefit of Vertex’s lease commitment,” says Richard Taylor, partner at BREIF.
Eve Picker, founder and CEO of Small Change, adds that she is equally proud to host the offering on the Small Change platform. “22 Drydock exemplifies impact,” she states. “It is fully aligned with our mission.”
To learn more about the offering, please view the listing details at https://www.smallchange.co/projects/22-Drydock.
About Small Change
SmallChange.co, an investment crowdfunding platform for real estate development with social impact, has helped 49 developers raise close to $15 million for projects in 27 cities, big and small, across the United States. SmallChange.co uses its proprietary Small Change Index™ to measure a broad array of factors to determine the project’s social impact with the goal of creating more affordable, more equitable and more innovative communities. To date, 62% of the deals funded via the Small Change platform have either a minority and/or female sponsor, and all of them score above 60% on the Small Change Index. Additionally, 68% of the mixed-use or residential projects listed on the platform have included affordable housing, and almost 90% have been located in underserved communities.
For more information on SmallChange.co, please visit www.smallchange.co or email hello@smallchange.co.
NSSC Funding Portal, a SEC registered Funding Portal and member of FINRA, offers investments under Regulation Crowdfunding or Title III, per Section 4(a)(6) of the Securities Act. These investments are offered to everyone 18 or over.
This is not a solicitation of an offer to buy or sell any securities. The projects illustrated above may not be indicative of all projects on the platform. All investing is risky and includes the risk of loss. Securities are subject to liquidity risk and cannot be easily converted to cash. *Past returns do not guarantee future returns. If you are interested in learning more, please visit Small Change for educational material and detailed offering information. You can always say hello@smallchange.co.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240404581535/en/
Contacts
Media Contact:
Rachel Antman, Saygency
(212) 362-5837
rachel@saygency.com
Investor Contact:
ir@breif.net
