Updated Dec 23, 2024
Alexandria Real Estate Sells Life Sciences Properties To BioMed Realty For $250 Million In Cambridge
215 First Street, 150 Second Street & 11 Hurley Street
$250,000,000
$150/SF
Building Size
552,543 SF
Asset Type
Life Sciences
Closing
Dec 23, 2024
About this deal
AI
The sale involved three life science buildings located at 215 First Street, 150 Second Street, and 11 Hurley Street in Cambridge, MA. These properties collectively total 552,543 square feet and were sold for $250,000,000, reflecting a price per square foot of $452.
Summary of transaction details:
- Property Type: Life Sciences
- Transaction Amount: $250,000,000
- Total Square Footage: 552,543
- Sale Price per Square Foot: $452
- Brokerage Firm: Newmark
- Representatives: Edward Maher, Jim Tribble, Matthew Pullen, Robert Griffin & Samantha Hallowell
- Seller: Alexandria Real Estate
- Buyer: Affiliate of BioMed Realty (a Blackstone portfolio company)
The transaction was facilitated by Newmark, which successfully brokered the sale, marking a significant deal in the life sciences sector within the Cambridge market.
On the Map
$250,000,000
$150/SF
Life Sciences
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Cambridge 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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93