October 15, 2020
Blackstone Realty Partners VIII L.P. and co-investors have consented to sell BioMed Realty for $14.6 billion to a group led by existing BioMed investors, who were offered the choice to pay out or reinvest their profits. Headquartered in San Diego, BioMed is the biggest private proprietor of life science office complex in the UNITED STATE
BREP VIII and also co-investors got BioMed in January 2016 in an offer valued at $8 billion. Since that time, Blackstone followed its “acquire it, repair it, market it” formula, concentrating the profile in core life science markets.
Tim Schoen, head of state and Chief Executive Officer of BioMed, stated, “Our field proceeds to show its resiliency, and currently is the rational time to seek lasting capital. This collaboration framework as well as Blackstone’s continuous support enable us to progress our goal, which is to make concentrated investments in core markets to support the development of the life science as well as technology sectors.”
Blackstone is commencing a “go-shop” process in support of BioMed’s existing capitalists, to be led by Morgan Stanley. Eastdil Guaranteed encouraged the buyers.
Envisioned: BioMed’s Emeryville Facility of Technology.
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