Boston & New England CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
GI Partners Acquires Life Sciences Asset in Boston’s Seaport Lab Cluster
GI Partners has acquired 451 D Street, a life science, data center and creative office asset in the Seaport lab cluster of Boston, MA.
Eastdil Secured represented seller Related Fund Management, which will retain a minority interest in the ownership of the property. Eastdil also placed debt financing for the new ownership group.
The 479,000-square-foot property represents a scaled, world class lab and data center facility located in one of the largest life science clusters in the US. Park 9 has recently undergone two major phases of lab conversion that total over half of the building’s rentable area.
“The Seaport has become a bona fide life sciences innovation hub and 451 D exemplifies our focus on serving the needs of small and medium-sized lab tenants through Class A reusable buildouts,” said John Sheputis, managing director at GI Partners and head of acquisitions for GI Partners Real Estate.
Related Beal will continue to serve as the building’s property manager
- ◦Sale/Acquisition
