Updated Dec 4, 2024
Stéphane Bancel Of Moderna Inc Acquires Mixed-use Asset At 325 Binney Street For $400M
325 Binney Street
$400,000,000
$583/SF
Building Size
686,000 SF
Asset Type
Mixed-use
Closing
Nov 7, 2024
About this deal
AI
This mixed-use asset, located at 325 Binney Street in Cambridge, is under contract for a total of $400 million. The property encompasses 686,000 square feet, leading to a price per square foot of $583. Moderna Inc. is acquiring the property, which it has leased for its operations, facilitating greater control over its Moderna Technology Center.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $400,000,000
- Square Footage: 686,000
- Address: 325 Binney Street
- Market: Cambridge
- Price per Square Foot: $583
- Buyer: Stéphane Bancel
- Company: Moderna Inc
Stéphane Bancel represents Moderna Inc. in this transaction, as the company plans to enhance productivity by gaining full ownership of its operational campus in Norwood through this purchase.
On the Map
$400,000,000
$583/SF
Mixed-use
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Players
Cambridge Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93