Biotech REIT Scores Boston Lab Complex For $308M

Law360, New York (December 14, 2011, 12:34 PM EST) -- BioMed Realty Trust Inc. has bought out its joint venture partner's 80 percent interest in a portfolio of mixed biotech and residential properties in Cambridge, Mass., for $308 million, the REIT said late Tuesday.

After exercising an option to buy out Prudential Real Estate Investors, BioMed now wholly owns the buildings, which include more than 500,000 square feet of laboratory space in the heart of Cambridge's research hub.

“We are very excited to take full ownership of the Rogers Street properties in the center of the...
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