News
BioMed Being Courted by Blackstone for Possible Sale
September 24, 2015
San Diego's life science campus REIT is up for sale. BioMed Realty Trust has tapped Morgan Stanley to explore its sale. That could be a huge number, given BioMed commands more than 24M SF of prime life science-centric office space and land from here to Boston and NYC worth more than an estimated $6B, according to the latest quarterly report. One potential suitor could be Blackstone Group. BioMed has been on a roll recently, inking some 1.7M SF of new leases the first half of this year across its portfolio. And it also recently purchased Towne Centre Technology Park, a four-building, 183k SF campus (here) in University Towne Centre from Arden Realty for $83.8M. [Bloomberg]
