Tim Schoen Of BioMed Realty Acquires Life Sciences Properties In Cambridge For $250M

BioMed Realty acquired three properties located at 215 First Street, 150 Second Street, and 11 Hurley Street in Cambridge, MA, for a total purchase price of $250,000,000. The combined square footage of the properties is 550,000, translating to a price per square foot of $455.

Summary of transaction details:

• Property Type: Life Sciences
• Transaction Amount: $250,000,000
• Buyer: Tim Schoen - BioMed Realty
• Seller: Peter M. Moglia - Alexandria Real Estate Equities
• Total Square Footage: 550,000
• Price Per Square Foot: $455

This transaction involved Tim Schoen representing BioMed Realty in the acquisition and Peter M. Moglia representing Alexandria Real Estate Equities in the sale. Following this acquisition, BioMed Realty, which is an affiliate of Blackstone, expanded its Greater Boston portfolio to include over 6 million square feet of property.