Bain Capital Sells $405M Research Triangle Portfolio
The 18-building, 1.3 million-square-foot portfolio sold to an affiliate of Longfellow Strategic Value Fund LLC.
RALEIGH DURHAM, NC–Bain Capital Real Estate has sold a 1.34 million-square-foot portfolio for $405 million to a Longfellow Strategic Value Fund LLC affiliate. The core life science portfolio consists of 18 buildings across four campuses in Research Triangle Park, which is the largest dedicated scientific research park in the US.
The 94% leased portfolio currently hosts some of the world’s leading life science innovators, including genetic research firms, clinical research organizations and agriculture technology companies.
The creation of this portfolio began between Bain Capital Real Estate and Longfellow Strategic Value Fund in 2014. Since then, the team has recruited a STEM-based ecosystem of life sciences, healthcare and technology tenants.
JLL Capital Markets managing director, Scot Humphrey served as the exclusive advisor to Bain Capital Real Estate. Senior managing directors Ryan Clutter, Coleman Benedict and Chris Norvell, and director Zack Drozda of JLL Capital Markets team represented the seller in the transaction.