Boston-based Bain Capital Real Estate has closed on the sale of a Class A life science property in Cambridge, Massachusetts, one of the world’s foremost life science hubs.
Located at 1030 Massachusetts Avenue, the property been sold to a publicly traded REIT in a transaction valued at $128 million.
Occupying a prime location in Harvard Square and with direct access to premier research institutions, 1030 Massachusetts Ave. was converted into a Class A, LEED Gold-certified laboratory building in 2013.
Today, the fully leased, four-story, 77,805 s/f property is the closest privately-owned laboratory/office building to Harvard University and is situated within walking distance of the Massachusetts Institute of Technology.
The building is home to a unique mix of established and growing life science tenants – including Astellas, Mitobridge, Obsidian Therapeutics – as well as Waypoint, the latest restaurant concept from award-winning chef Michael Scelfo.
Bain Capital Real Estate acquired 1030 Massachusetts Ave. in 2016 with its operating partner on this asset, Longfellow Real Estate Partners, who had completed the 2013 conversion.
Eastdil Secured, served as the exclusive advisor to Bain.
Bain Capital sells MIT hub
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