Norges Bank Investment Management Acquires Life Sciences Properties In Cambridge For $746.4M

Owen D. Thomas has sold the properties located at 290 Binney Street and 300 Binney Street in Cambridge, MA to Norges Bank Investment Management for a total transaction amount of $746,400,000. The properties are in the life sciences sector with a total square footage of 810,000, resulting in a price per square foot of $921.

Summary of transation details

• Property Type: Life Sciences
• Transaction Amount: $746,400,000
• Address: 290 Binney Street & 300 Binney Street, Cambridge, MA
• Market: Cambridge, MA
• Buyer: Norges Bank Investment Management
• Seller: Owen D. Thomas - BXP
• Square Footage: 810,000
• Price per Square Foot: $921

Norges Bank Investment Management has acquired a 45 percent interest in the life sciences properties located in Cambridge's Kendall Square neighborhood from Owen D. Thomas, who was represented by BXP in the deal. The transaction marks a significant investment for Norges Bank and represents their entry into the vibrant life sciences market of Cambridge.