Latest Breaking News On - Blackstone property partners life sciences - Page 1 : comparemela.com

Posted on 554 Blackstone (NYSE: BX) today announced that Blackstone Property Partners Life Sciences (“BPPLS”) will acquire a best‐in‐class, 2.3 million square foot portfolio of lab office buildings from a Brookfield Asset Management real estate fund for $3.45 billion. BPPLS is Blackstone Real Estate’s long-term, perpetual capital, core+ return life sciences strategy that owns BioMed Realty, Blackstone’s life science real estate portfolio company. The transaction is expected to close in the first quarter of 2021 subject to customary closing conditions. Approximately 90% of the portfolio being acquired is concentrated in Cambridge, Massachusetts. Following the completion of the transaction, Blackstone will become the largest life science office owner in Cambridge, and BioMed Realty, which will have an enterprise value of approximately $20 billion, will have two-thirds of its platform concentrated in the Boston

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