109 Brookline, Boston 109Brookline, Boston

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BOSTON—IQHQ, Inc., formerly Creative Science Properties, hascome off a recent successful $770-million capital raise andacquired 109 Brookline in the Fenway section of Boston for $270million.

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IQHQ acquired the 285,000-square-foot office, medical andlaboratory building from Equity Commonwealth. 109 Brookline iscurrently 99% leased to Beth Israel Deaconess Medical Center,Dana-Farber Cancer Institute and Boston Children's Hospital—all ofwhich operate flagship hospitals in the adjacent Longwood Medicaland Academic Area– as well as Toast, a fast-growing technologystartup firm.

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Newmark Knight Frank co-head of US Capital Markets RobertGriffin, vice chairman Edward Maher, executive managing directorsMatthew Pullen and Frank Nelson, managing directors Michael Greeleyand Samantha Hallowell and associate irector Blake McLaughlin ofNKF's Boston Capital Markets group oversaw the transaction onbehalf of Equity Commonwealth.

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"Boston's amazing life sciences cluster keeps fueling demand forhigh quality space," says John Bonanno, chief investment officer ofIQHQ. "109 Brookline checks a lot of boxes for us—it's adjacent toFenway Center, easily accessible by public transportation, and in aneighborhood with a history of full occupancy and a bright future.It fits in with IQHQ's long-term plans to invest in projects thatsupport the growth of the life sciences sector."

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IQHQ's $770-million capital raise will enable the firm to investin life sciences projects in its core markets of Boston, SanFrancisco and San Diego in the United States, and the GoldenTriangle in the United Kingdom.

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Creative Science Properties announced last week its intent tochange its name to IQHQ, Inc. IQHQ also announced at that time ithad successfully completed a $770-million equity raise, including aprivate placement financing to qualified institutional buyers underRule 144A of the Securities Act of 1933 and project specific equityinvestments. Investment banker Raymond James led the financing.

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Alan Gold, executive chairman of IQHQ, and a pioneer of the lifescience real estate asset class, has teamed with experienced lifescience real estate veterans at IQHQ, including Steve Rosetta, whowill serve as CEO; Tracy Murphy, who will serve as president; andBonanno, who will serve as chief investment officer.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.