In May 2019, Harrison Street acquired Osborn Triangle, a state-of-the-art, multi-tenant office and laboratory complex located in East Cambridge/Kendall Square in partnership with Bulfinch and a subsidiary of MIT. Earlier this year, the firm acquired the largest private life sciences portfolio in the UK and two newly renovated, life sciences properties in San Diego’s Sorrento Mesa neighborhood with BioScience Properties. Harrison Street continues to expand its presence in the life sciences sector with investments totaling over $2 billion across 3 million square feet of life sciences lab, research and innovation space. Supporting the life sciences sector by providing world-class facilities has never been more important and Harrison Street is committed to identifying attractive investment opportunities in key life sciences markets.” Notably, we executed on our business plan for the portfolio, including stabilizing the properties, nearly three years ahead of schedule and attracting best-in-class bioscience tenants. The portfolio is currently 94% leased on a combined basis.īen Mohns, Harrison Street’s Senior Managing Director and Head of Asset Management – North America, said, “The successful sale of this portfolio demonstrates Harrison Street’s life sciences investing expertise and unwavering focus on creating value for our investors and partners. Harrison Street later acquired ownership interests in both 100 CDP and 200 CDP in the spring and summer of 2019, respectively. In partnership with Bulfinch and National, Harrison Street initially invested in the development of 400/500 CDP in December 2018, which had no tenants at the time, and in eight months leased 88% of the property prior to completion of construction. The portfolio includes three Class-A life sciences buildings and two parking garages totaling approximately 620,000 square feet located at 100 CDP, 200 CDP and 400/500 CDP in the West Cambridge submarket of Boston. Bulfinch will continue to serve as property manager and maintains an ownership interest in the park. The sale represents the first realization for Harrison Street’s 2018 Vintage Year fund. , a Boston based private real estate investment, development and management firm, and National Real Estate Advisors, LLC, on behalf of their clients, announced the sale of Cambridge Discovery Park, a three property life sciences campus in Cambridge, Massachusetts at a gross sale price of $720 million. BOSTON– Harrison Street, one of the leading investment management firms exclusively focused on alternative real assets, along with partners The Bulfinch Companies, Inc.
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