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CBRE Fund Acquires Partial Interest in Boston Trophy Life Science Property
A fund sponsored by CBRE Investment Management has acquired a partial interest in a 10-story, Class A life science building in Cambridge, MA through a joint venture with an institutional investor and a publicly traded REIT.
Newmark’s Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell represented the seller in the recapitalization and procured the new partner.
The 432,931 square-foot property, 100 Binney Street in the Kendall Square neighborhood, is anchored by Bristol Myers Squibb and and Meta Platforms, Inc., and has street-level retail, plus a below-grade parking garage.
“The life sciences sector has continued to see strong growth fueled by the high influx of public and private funding amid a heightened focus on bioscience because of the COVID-19 pandemic,” said Larissa Belova, portfolio manager for CBRE Investment Management. “This emerging sector remains a key focus of our forward-looking investment strategy given our belief that the demand for quality lab and research spaces is expected to remain steady for the foreseeable future.”
Photo: Newmark
- ◦Sale/Acquisition
