{"id":1004562176,"date":"2021-12-29T04:38:11","date_gmt":"2021-12-29T12:38:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004562176"},"modified":"2022-12-08T23:59:24","modified_gmt":"2022-12-09T07:59:24","slug":"biogen-hq-obtains-476m-recap","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/","title":{"rendered":"Biogen HQ Obtains $476M Recap"},"content":{"rendered":"
\"\"<\/a>

225 Binney St. Image courtesy of Newmark<\/p><\/div>\n

The 225 Binney St. life science development in Cambridge, Mass., has received a $476 million recapitalization. With help from Newmark, a global institutional investor acquired a partial interest in the property, which serves as the global headquarters of biotechnology company Biogen.<\/p>\n

TIAA-CREF purchased a 70 percent interest in the 305,212-square-foot asset in late 2015 from Alexandria Real Estate Equities Inc. for $190.1 million. The property traded at a total value of $271.6 million or $889 per square foot, while Alexandria remained the owner of the remaining stake.<\/p>\n

\n

READ ALSO<\/strong>: In CRE Financing, One Size Does Not Fit All: Q&A<\/a><\/p>\n

\n

The news comes on the heels of\u00a0Alexandria\u2019s recapitalization<\/a> of two nearby Cambridge properties: 50 and 60 Binney St., which total 530,000 square feet between them. Newmark worked on behalf of the REIT to close the deal with Norges Bank Investment Management and MetLife Investment Management.<\/p>\n

The property at 225 Binney St. is part of Alexandria Center at Kendall Square\u2014a 2.6 million-square-foot science and technology campus\u2014and is situated within walking distance of MBTA Red Line\u2019s Kendall\/MIT subway station. The asset comprises a six-story structure that came online in 2013 and two older, renovated historic brick-and-beam buildings. The newly constructed building is LEED Gold certified.<\/p>\n

The neuroscience-focused tenant\u2014the oldest independent biotechnology firm in the world\u2014has a large-scale campus in Cambridge. The 225 Binney St. property comprises all of the company\u2019s executive offices.<\/p>\n

Newmark\u2019s team included arranging the deal Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen and Managing Director Samantha Hallowell of the firm\u2019s Boston Capital Markets Group.<\/p>\n","protected":false},"excerpt":{"rendered":"

This office asset is located in the red-hot Cambridge life science hub.<\/p>\n","protected":false},"author":739,"featured_media":1004562177,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,22251,21783,11,21742,21747],"tags":[32827,38840,50999,38539,33460],"class_list":["post-1004562176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-in-focus","category-investment","category-midatlantic","category-latest","category-office","tag-alexandria-real-estate-equities-inc","tag-matthew-pullen","tag-newmark","tag-robert-griffin","tag-tiaa"],"acf":[],"yoast_head":"\nBiogen HQ Obtains $476M Recap - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"The 225 Binney St. life science development in Cambridge, Mass., which serves as the global headquarters of Biogen, has received a $476 million recapitalization. A global institutional investor, procured by Newmark, acquired partial interest in the property,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Biogen HQ Obtains $476M Recap\" \/>\n<meta property=\"og:description\" content=\"The 225 Binney St. life science development in Cambridge, Mass., which serves as the global headquarters of Biogen, has received a $476 million recapitalization. A global institutional investor, procured by Newmark, acquired partial interest in the property,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-29T12:38:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:59:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/225-Binney-e1640775873204.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1454\" \/>\n\t<meta property=\"og:image:height\" content=\"1091\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Beata Lorincz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/\",\"name\":\"Biogen HQ Obtains $476M Recap - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/225-Binney-e1640775873204.jpg\",\"datePublished\":\"2021-12-29T12:38:11+00:00\",\"dateModified\":\"2022-12-09T07:59:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004\"},\"description\":\"The 225 Binney St. life science development in Cambridge, Mass., which serves as the global headquarters of Biogen, has received a $476 million recapitalization. A global institutional investor, procured by Newmark, acquired partial interest in the property,\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/225-Binney-e1640775873204.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/225-Binney-e1640775873204.jpg\",\"width\":1454,\"height\":1091,\"caption\":\"225 Binney St. Image courtesy of Newmark\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Biogen HQ Obtains $476M Recap\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004\",\"name\":\"Beata Lorincz\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96\",\"caption\":\"Beata Lorincz\"},\"description\":\"With a background in architecture, Beata Lorincz has been an associate editor with Commercial Property Executive and Multi-Housing News since 2017. Her current work centers around architecture and design, the student housing sector and data-driven updates on the office market.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/beata-lorincz\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Biogen HQ Obtains $476M Recap - Commercial Property Executive","description":"The 225 Binney St. life science development in Cambridge, Mass., which serves as the global headquarters of Biogen, has received a $476 million recapitalization. A global institutional investor, procured by Newmark, acquired partial interest in the property,","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/","og_locale":"en_US","og_type":"article","og_title":"Biogen HQ Obtains $476M Recap","og_description":"The 225 Binney St. life science development in Cambridge, Mass., which serves as the global headquarters of Biogen, has received a $476 million recapitalization. A global institutional investor, procured by Newmark, acquired partial interest in the property,","og_url":"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2021-12-29T12:38:11+00:00","article_modified_time":"2022-12-09T07:59:24+00:00","og_image":[{"width":1454,"height":1091,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/225-Binney-e1640775873204.jpg","type":"image\/jpeg"}],"author":"Beata Lorincz","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/","url":"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/","name":"Biogen HQ Obtains $476M Recap - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/225-Binney-e1640775873204.jpg","datePublished":"2021-12-29T12:38:11+00:00","dateModified":"2022-12-09T07:59:24+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004"},"description":"The 225 Binney St. life science development in Cambridge, Mass., which serves as the global headquarters of Biogen, has received a $476 million recapitalization. A global institutional investor, procured by Newmark, acquired partial interest in the property,","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/225-Binney-e1640775873204.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/225-Binney-e1640775873204.jpg","width":1454,"height":1091,"caption":"225 Binney St. Image courtesy of Newmark"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/biogen-hq-obtains-476m-recap\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Biogen HQ Obtains $476M Recap"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004","name":"Beata Lorincz","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96","caption":"Beata Lorincz"},"description":"With a background in architecture, Beata Lorincz has been an associate editor with Commercial Property Executive and Multi-Housing News since 2017. Her current work centers around architecture and design, the student housing sector and data-driven updates on the office market.","url":"https:\/\/www.commercialsearch.com\/news\/author\/beata-lorincz\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/225-Binney-e1640775873204.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004562176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/739"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004562176"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004562176\/revisions"}],"predecessor-version":[{"id":1004562700,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004562176\/revisions\/1004562700"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004562177"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004562176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004562176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004562176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}