Simpson Reps Blackstone In $14.6B BioMed Realty Deal

Law360 (October 15, 2020, 10:15 PM EDT) -- Simpson Thacher-advised Blackstone Group has agreed to sell BioMed Realty, which owns life sciences office buildings in the U.S. and U.K., to a group led by existing BioMed investors in a deal worth $14.6 billion, the companies said Thursday.

The deal is meant to provide BioMed Realty with capital it can use to seek growth, including through investments and acquisitions, according to a press release. Under the terms of the recapitalization agreement, Blackstone Real Estate Partners VIII LP and unidentified co-investors are selling BioMed Realty. Existing BioMed investors have the right to either exit in exchange for cash or reinvest their...

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