GI Partners, a private investment firm, has acquired 451 D Street, a life science data center used by biotechnology firms in Boston.
The 479,000 property has undergone phases of lab conversion that cover half of the building’s rentable area.
“We are thrilled to acquire a critical piece of what we believe to be one of the most important life sciences ecosystems in the country,” said John Sheputis, managing director at GI Partners. “This is an attractive asset that has experienced exceptional leasing velocity through careful execution and delivering best-in-class service and amenities. The integration of this mission-critical asset into our diversified life sciences portfolio is expected to deliver superior long-term risk-adjusted returns.”
Eastdil Secured represented the seller on this transaction and placed debt financing for the new ownership group.