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Blackstone Real Estate Partners VIII and co-investors have agreed to sell BioMed Realty for $14.6 billion to a group led by existing BioMed investors. 

BioMed is the largest private owner of life science office buildings in the US with a 11.3 million square foot portfolio concentrated in Boston/Cambridge, San Francisco, San Diego, Seattle and Cambridge UK.. In connection with the recapitalization, existing BioMed investors were offered the option to exit for cash or reinvest their proceeds from the sale. The investment will generate $6.5 billion of cumulative profits for BREP VIII and BioMed co-investors.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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