BXP Completes Sale of 45% Interest in Kendall Square Life Sciences Property
Boston Properties, Inc. (BXP)
Last boston properties, inc. earnings: 4/28 04:49 pm
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Source: Business Wire
Norges Bank Investment Management Closes on 290 Binney Street Joint Venture BOSTON--(BUSINESS WIRE)--BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, today announced that it has completed the previously announced sale of a 45% interest in 290 Binney Street, a life sciences development located in Kendall Square in Cambridge, Massachusetts, to Norges Bank Investment Management. NBIM’s investment will reduce BXP’s share of the project’s estimated development spend over time by approximately $533.5 million.290 Binney Street is a 16-story, 570,000 square foot laboratory/life sciences property currently under construction and 100% pre-leased to AstraZeneca, with initial occupancy expected in April 2026.The consummation of this joint venture completes NBIM’s two-building investment in Cambridge, Massachusetts with a gross valuation of approximately $1.66 billion or $2,050 per square foot. The properties – 290 Binney Str
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BXP
Earnings
- 1/30/24 - Beat
BXP
Sec Filings
- 4/16/24 - Form ARS
- 4/12/24 - Form DEFA14A
- 4/12/24 - Form DEF
- BXP's page on the SEC website