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North Carolina Life Science Portfolio Trades for $405M

Longfellow Strategic Value Fund has acquired a 1.34 million-square-foot life science portfolio in Research Triangle, NC for $405 million. The portfolio consists of 18 buildings on four campuses.

The properties, which are currently 94% leased, are located within Keystone Technology Park and Imperial Center. Tenant amenities at the properties include fitness centers and outdoor lounges. The portfolio is adjacent to Research Triangle Park, which is home to leading life science innovators and was recently ranked one of the top five life science clusters in the nation.

Scot Humphrey, Ryan Clutter, Chris Norvell, Coleman Benedict and Zack Drozda of JLL represented the seller, Bain Capital Real Estate, in the transaction. The deal was secured by HFF prior to being acquired by JLL on July 1, 2019.

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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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