Updated Dec 4, 2024
Alexandria Real Estate Equities Sells Life Sciences Buildings In Cambridgeport & Waltham For $305.5M
$305,500,000
Building Size
—
Asset Type
Life Sciences
Closing
Jan 3, 2024
About this deal
AI
Alexandria Real Estate Equities Inc. has sold two life sciences buildings in Cambridgeport and Waltham, Massachusetts to Phase 3 Real Estate Partners for a combined sale price of $305,500,000. The properties, located at 100 Beaver Street and 640 Memorial Drive, are part of the thriving life sciences market in Waltham and Cambridge.
Summary of transaction details
- Property Type: Life Sciences
- Transaction Amount: $305,500,000
- Seller: Joel S. Marcus - Alexandria Real Estate Equities Inc
- Market: Waltham & Cambridge, MA
This transaction represents a significant milestone for Alexandria Real Estate Equities Inc., as they successfully divest these prime life sciences assets. Phase 3 Real Estate Partners takes ownership of the properties, positioning themselves within the competitive life sciences market in the region.
Market Life Sciences Market Snapshot
Boundary boundary · Life Sciences · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93