BOSTON– Alexandria Real Estate Equities has sold five Massachusetts buildings in Cambridge and Waltham for $365 million, Boston Business Journal reported.
BBJ said that a joint venture between Alloy Properties and Anchor Line Partners has acquired five life sciences buildings in Waltham and Cambridge for a combined $365 million.
“Dallas-based Alloy and Boston-based Anchor Line now own 225, 266 and 275 Second Ave. in Waltham and 780 and 790 Memorial Drive in Cambridge,” BBJ reported. “They paid $266 million for the Waltham properties, according to Middlesex County deeds, and $99 million for the two Cambridge sites. Together, the five buildings feature about 425,000 square feet of space.”
The new acquisitions bring Alloy’s Greater Boston footprint to 1.8 million square feet and give the firm entry into Cambridge, BBJ said.
“We are thrilled to continue investing behind the dynamic life science ecosystem in the greater Boston area and look forward to integrating these high-quality innovation campuses and best-in-class tenants into the Alloy Properties national network,” Alicia Mistry Hinds, Alloy’s director of asset management, said in a statement as quoted by the BBJ.