BXP Acquires Life Science Asset In Cambridge For $592M
SOLD
$592,000,000
Massachusetts
See Similar DealsOther271,000 SF
Sold 09/20/2022
SOLD
BXP Acquires Life Science Asset In Cambridge For $592M
125 Broadway, Cambridge, Massachusetts 02142, United States
See Similar DealsOther271,000 SF
Sold 09/20/2022
Summary
MASSACHUSETTS
Asset Type:Other
Price Per Square Foot:$2,184
Total Square Footage:271,000 SF
Transaction Type:Sale
A life science property located at 125 Broadway in Cambridge, MA was sold for a total price of $592,000,000. The property spans a total of 271,000 square feet, resulting in a price per square foot of $2,185. The sale took place on September 20, 2022, and the buyer was BXP represented by Bryan Koop of their agency. The seller of the property was Biogen.
Summary of transaction details
- Property Type: Life Science
- Transaction Amount: $592,000,000
- Address: 125 Broadway, Cambridge, MA
- Market: Cambridge, MA
- Buyer: BXP - Bryan Koop
- Seller: Biogen
- Square Footage: 271,000
- Price per Square Foot: $2,185
Bryan Koop, representing BXP, played a key role as the buyer's representative in this transaction. The sale of the life science property at 125 Broadway demonstrates the strong real estate market in Cambridge, MA.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$31,573,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,103,250.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,806,382.02
Annual Debt Service$33,676,584.29
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