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Silicon Valley Bank Relationship to the North Airfield expansion project

March 15, 2023


The developers of the North Airfield expansion project are North Airfield Ventures, LLC and Runway Realty Ventures, LLC. Both of these companies appear to have been specifically created for this project.  Both of these companies claim a Mr. Jeffrey Leerink and Michael Argiros  as a principals and are based at 700 Boston Providence Highway, Norwood, MA.  The financing for these projects, which will cost many tens of millions of dollars, is not public information.

Mr. Leerink is the CEO of SVB Securities, headquartered in Boston and a unit of Silicon Valley Bank Financial Group- which recently sought bankruptcy protection.

SVB Securities is an investment bank, which is a separate legal entity from the failed Silicon Valley Bank. SVB Securities has a long history of association with Mr. Leerink. In 1995, Mr. Leerink founded Leerink Swann, LLC; in 2014 it was rebranded as Leerink Partners, LLC; and in 2019 as SVB Leerink; and in 2002 was rebranded as SVB Securities. At this time, the partners of SVB Securities are attempting to buy back the organization from the bankrupt parent group.

It is important that the developers disclose to the investors/financers of the environmental consequences, reputational risks, and financial risks associated with this project.

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