BioMed Realty Trust to buy Cambridge Place for $119m
BioMed Realty Trust Inc., a San Diego-based real estate investment trust that focuses on the life sciences industry, has agreed to buy Cambridge Place for $119 million. The transaction would expand BioMed’s real estate portfolio in the Greater Boston-Cambridge market to about 3.2 million square feet of space. Cambridge Place is made up of three buildings, and the property is 80-percent leased. Tenants include CDM Smith Inc., an engineering and construction firm, and Idenix Pharmaceuticals Inc., a biopharmaceutical company.