BioMed Realty, a unit of Blackstone, is acquiring a sprawling life-sciences and office campus in Boulder, Colo.the latest sign that the city at the base of the Rocky Mountains is emerging as a hub for the biotechnology and pharmaceutical industries.

BioMed Realty acquired Flatiron Park, a one-million-square-foot, 22-building life science and office campus that is currently 90% leased to a mix of industry-leading technology and life science firms. 

The campus traded for $600 million, according to the Wall Street Journal, and BioMed Realty has plans to invest another $200 million to in part convert some of the offices to life science space. 

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