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Morgan Stanley Claims Stake in Boston Lab Asset from Carlyle for $240M
Morgan Stanley Real Estate Advisors acquired a pair of laboratory buildings near Boston from Washington, D.C.-based The Carlyle Group for $240 million. The buildings are located at 828 and 830 Winter St. in Waltham, MA.
Carlyle held a stake in the property with King Street Properties, since acquiring the 182,000-square-foot 830 Winter St. building in 2015. The 2001-era property sits on a 16-acre site off Route 128. Long known as a top-rated laboratory option, 830 Winter St. is occupied by such credit tenants as GlaxoSmithKline, Histogenics and Immunogen.
A second 145,000-square-foot building at 828 Winter St. was subsequently built this year, creating the largest multi-tenanted life sciences cluster outside of Cambridge.
King Street will retain an undisclosed stake in the property. JLL Capital Markets reportedly handled the transaction.
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