BOSTON– Nan Fung Life Sciences Real Estate (NFLSRE) announced the acquisition of One Winthrop Square Boston from MAPFRE Insurance for $75 million.
Located in Downtown Boston, the 115,667 sq. ft, five floor building is adjacent to Millennium’s Winthrop Center Tower with easy access to multiple public transportation options and all the vibrancy that Boston’s downtown offers.
Based in Boston MA, NFLSRE is led by a world class management team with over 75 years of combined life sciences real estate development and operations experience.
“We look forward to bringing more unique opportunities for life science businesses to grow in the City of Boston and working with the City to continue supporting this important industry,” said Matthew Powers, CEO of Nan Fung Life Sciences Real Estate. “There is a symbiotic opportunity for the City to accommodate the growing and important life science industry, but there is an unmet need for high-quality life science space and we are proud to be able to provide that for companies looking to grow and establish themselves in Boston.”
The acquisition of One Winthrop Square comes shortly after NFLSRE acquired 51 Sleeper Street a 152,102 sq. ft, eight floor building in the Seaport District of Boston.
NFLSRE is a subsidiary of Nan Fung Group, a privately held Hong Kong based global conglomerate with core businesses in real estate development and investment. The Group’s real estate business is vertically integrated with investment, development and operating capabilities in Hong Kong, China, the United Kingdom and the United States. The Group also holds a well-diversified financial investment portfolio and has made significant investments in the life science sector globally through Nan Fung Life Sciences.
Nan Fung Life Sciences has $1.5 billion capital commitment from Nan Fung Group to invest into life sciences and has invested in 46 portfolio companies to date.