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.
BREP VIII, an opportunistic Real Estate investment fund, and co-investors acquired BioMed in January 2016.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
