{"id":1004574985,"date":"2022-04-05T02:46:56","date_gmt":"2022-04-05T10:46:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004574985"},"modified":"2022-12-08T07:55:33","modified_gmt":"2022-12-08T15:55:33","slug":"biomed-realty-closes-600m-plus-acquisition","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/biomed-realty-closes-600m-plus-acquisition\/","title":{"rendered":"BioMed Realty Closes $600M-Plus Acquisition"},"content":{"rendered":"
\"5541<\/a>

Rendering of 5505 Central Ave. at Flatiron Park. Image courtesy of BioMed Realty<\/p><\/div>\n

BioMed Realty<\/strong> has acquired Flatiron Park, a 1 million-square-foot, 22-building life science and office campus in Boulder, Colo. A BioMed spokesperson told Commercial Property Executive<\/em> that the purchase price was \u201ca little more than $600 million.\u201d<\/p>\n

The seller was a joint venture of Crescent Real Estate<\/strong>, Goldman Sachs Asset Management<\/strong>\u2019s Real Estate Business and Lionstone Investments<\/strong>. JLL Capital Markets<\/strong> represented the seller.<\/p>\n

The campus is currently 90 percent leased to a mix of technology and life science firms, reportedly including Apple<\/strong>, although the spokesperson was unable to comment on this.<\/p>\n

Flatiron Park helps BioMed expand its portfolio beyond its existing core markets. The company previously owned assets in Boulder that were part of a portfolio disposition strategy in 2016, closely following BioMed\u2019s acquisition by Blackstone<\/strong>, but this is the first time that BioMed has had any scale in Boulder.<\/p>\n

\n

READ ALSO<\/strong>: Life Science Properties Must Make ESG a Priority. Here\u2019s How.<\/a><\/p>\n

\n
\"5541<\/a>

5541 Central Ave. at Flatiron Park. Image courtesy of Scott J. Latimer of Dean Callan & Co. Inc.<\/p><\/div>\n

In a prepared statement, Jon Bergschneider, president of West Coast markets at BioMed Realty, said the company \u201canticipates investing an additional $200 million in redevelopment costs over time\u201d at Flatiron Park.<\/p>\n

Mike Ruhl, BioMed\u2019s vice president of leasing, added, \u201cBoulder has always been a market to watch, driven by highly educated talent, robust capital flow, an existing base of life science and tech pioneers, and great quality of life.\u201d<\/p>\n

As part of its efforts to engage with the Boulder community, BioMed has made a monetary donation to the Director\u2019s Discretionary Fund at University of Colorado Boulder\u2019s BioFrontiers Institute, to support researchers from the life sciences, physical sciences, computer science and engineering fields who are working together to discover innovative solutions that improve human health.<\/p>\n

Workers and spaces<\/h2>\n

Metro Denver\u2019s life science market attracted about $700 million in venture capital investment in 2021, according to a first-quarter update from Cushman & Wakefield<\/strong>.<\/p>\n

The report noted a broad correlation in major life science markets<\/a> between the depth of the talent pool and the life science space inventory. Across 12 markets nationwide, the average inventory-to-talent ratio is 462 square foot per person. Metro Denver, along with the San Francisco Bay Area, San Diego and North Carolina\u2019s Raleigh-Durham area, has a somewhat higher ratio, above 600 square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"

Flatiron Park is the largest life science and office campus in this Colorado city.<\/p>\n","protected":false},"author":882,"featured_media":1004575012,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22251,21783,21754,21742,21747,15],"tags":[33752,32854,32892,38853,45284,33177],"class_list":["post-1004574985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-investment","category-medical-office","category-latest","category-office","category-west","tag-apple","tag-biomed-realty","tag-blackstone","tag-crescent-real-estate-holdings","tag-goldman-sachs-asset-management-private-real-estate","tag-lionstone-investments"],"acf":[],"yoast_head":"\nBioMed Realty Closes $600M-Plus Acquisition - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"BioMed Realty has acquired Flatiron Park, a 1 million-square-foot, 22-building life science and office campus in Boulder, Colo.\" \/>\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\/biomed-realty-closes-600m-plus-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BioMed Realty Closes $600M-Plus Acquisition\" \/>\n<meta property=\"og:description\" content=\"BioMed Realty has acquired Flatiron Park, a 1 million-square-foot, 22-building life science and office campus in Boulder, Colo.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-closes-600m-plus-acquisition\/\" \/>\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=\"2022-04-05T10:46:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T15:55:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/5505-Central-Ave.-at-Flatiron-Park.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\/biomed-realty-closes-600m-plus-acquisition\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-closes-600m-plus-acquisition\/\",\"name\":\"BioMed Realty Closes $600M-Plus Acquisition - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-closes-600m-plus-acquisition\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-closes-600m-plus-acquisition\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/5505-Central-Ave.-at-Flatiron-Park.jpg\",\"datePublished\":\"2022-04-05T10:46:56+00:00\",\"dateModified\":\"2022-12-08T15:55:33+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"BioMed Realty has acquired Flatiron Park, a 1 million-square-foot, 22-building life science and office campus in Boulder, Colo.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-closes-600m-plus-acquisition\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-closes-600m-plus-acquisition\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/biomed-realty-closes-600m-plus-acquisition\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/5505-Central-Ave.-at-Flatiron-Park.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/5505-Central-Ave.-at-Flatiron-Park.jpg\",\"width\":800,\"height\":600,\"caption\":\"Rendering of 5505 Central Ave. at Flatiron Park. 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