Twitter LinkedIn
    Wednesday, May 18
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Deals»King Street Properties and The Carlyle Group sell 33 New York Ave. and 1 & 5 Mountain Rd. to Oxford Properties Group for $151 million
    Deals

    King Street Properties and The Carlyle Group sell 33 New York Ave. and 1 & 5 Mountain Rd. to Oxford Properties Group for $151 million

    January 16, 20212 Mins Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Framingham, MA King Street Properties and The Carlyle Group completed the sale of 33 New York Ave. and 1 & 5 Mountain Rd. to Oxford Properties Group for $151 million.

    In 2018, King Street and Carlyle purchased the 91,452 s/f building at 33 New York Ave. and expanded the building to 113,527 s/f. King Street performed a major conversion of the former GateHouse Media printing facility to a bio-manufacturing and R&D space. In 2018, Replimune Group Inc. signed a 10-year lease for over 60% of the building, followed by CRISPR Therapeutics, Inc.

    In 2019, King Street and Carlyle purchased 1 & 5 Mountain Rd. in Framingham Technology Park from Sanofi Genzyme who continues to occupy the space for two more years. King Street created plans to redevelop the asset into a multi-tenanted R&D lab facility following Sanofi Genzyme’s vacancy.

    King Street has been creating spaces for life sciences for over 18 years, and has recently launched a new initiative, Pathway, which will provide life science tenants with customizable flexible bio-manufacturing space.

    “Our success with both of these assets confirms our confidence in the long-term strength of the life sciences real estate market, and the specific need for biomanufacturing space in our state,” said Thomas Ragno, principal, King Street Properties.

    “For years, Carlyle has been actively investing in demographic-driven sectors such as life science where we see increasing opportunity,” said Michael Gershenson, managing director, The Carlyle Group. “We are proud of the evolution of both properties and look forward to continued investment in the asset class.”

    Frank Petz and John Nasca of Colliers represented the sellers in the transaction.

    Source: Nerej

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    deals deals and transactions Investments Private Equity
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Moving App Updater Secures $215 Million in Vista Equity Backing

    May 17, 2022

    Musk’s Talks With Twitter All Started With Dorsey, Durban

    May 17, 2022

    Aircraft lessor SMBC to buy rival Goshawk in $6.7 bln deal

    May 17, 2022

    Tiger Global slashes bets on tech groups after stock market sell-off

    May 17, 2022

    Comments are closed.

    Other Articles

    HarbourVest Partners closes direct lending fund at USD892m

    September 24, 2021

    CalPERS pledges $605m to 4 alts funds

    February 21, 2022

    Neo Financial becomes Calgary’s latest US$1B tech ‘unicorn’

    May 5, 2022

    Advent gears up for $4.6 bln sale of French biometrics firm IDEMIA

    February 7, 2022

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2022 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?