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Boston & New England  + Office  |  September 12, 2019
David Cohen
By: David Cohen

HCP Acquires Cambridge Life Science Property for $333M

Real estate investment trust HCP has entered into a definitive agreement to acquire a 224,000-square-foot laboratory building in Cambridge for $332.5 million. The seller was the Davis Companies and Invesco Real Estate.

Located at 35 CambridgePark Dr., the property is adjacent to HCP’s recently acquired property at 87 CambridgePark Dr. and a future development opportunity at 101 CambridgePark Dr. The property is fully-leased to five life science tenants composed of both established large-cap and emerging biopharmaceutical companies.

“With the acquisition of 35 CambridgePark Drive, we’re pleased to report that in less than two years we have expanded our presence in the Boston life science market to more than 1.3 million square feet, and at a very compelling blended yield,” said Scott Brinker, CIO of HCP.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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