Boulder’s Flat Iron Park, near 55th Street and Arapa Ho Avenue, was the center of historic $ 625 million purchases, counted as the largest single asset. Sale In the history of Colorado, according to several real estate sources.
BioMed Realty, a San Diego-based real estate investment trust company, publication In April, we acquired Business Park from JLL’s Capital Markets Group, which replaced Crescent Real Estate LLC, a real estate business within Goldman Sachs Asset Management and Lionstone Investments.
purchase span 1 million square feet and 22 buildings, offices and flex spaces. Benmolk, Senior Vice President of Crescent Real Estate, said:
BioMed was purchased from GPIF Flatiron Business Park, which includes various LLCs, using a holding company with various LLCs named BRE-BMR, said Cynthia Braddock, Councilor of Boulder County.
The holding company also bought another building on 2100 Central Avenue in Boulder Business Park for $ 17 million, she added.
In a statement, West Coast Market President John Bergschneider said BioMed “aims to invest an additional $ 200 million in long-term redevelopment costs, which will create nearly 400 new local construction jobs. It is expected to be created. ” The Blackstone portfolio company will also contribute to the Biofrontier Institute at the University of Colorado at Boulder.
Mike Ruhl, Vice President of Leasing at BioMed, described Boulder as “powered by highly educated talent, strong capital flows, the existing foundation of a pioneer in life sciences and technology, and excellent quality of life. A notable market. “
BioMed also owns and operates life sciences real estate in Boston, San Diego, the San Francisco Bay Area, Seattle and the New York Metropolitan Area, in addition to Cambridge, UK. CBRE has been awarded a Flatiron Park lease allocation by the new owner.
The JLL Capital Markets team on behalf of the seller included Mark Katz, Peter Melion and Hillary Burnett.
“BioMed’s acquisition of Flatiron Park will bring significant benefits to the emerging life sciences ecosystem in Colorado,” Katz said.