Bain Capital Real Estate and Longfellow Real Estate Partners have sold a class A life sciences property located in the Greater Boston area.
“The sale of One Patriots Park following an extensive redevelopment project further bolsters our belief in the sector, particularly at a time when life sciences companies and technologies are expanding at a rapid pace,” said Jamison Peschel, a Managing Partner at Longfellow Real Estate Partners.
The property, located at One Patriots Park in Bedford, Mass., has been sold to Jumbo Capital Management and Iron Point Partners in a transaction valued at $72.5 million.
Bain Capital Real Estate and its operating partner on this asset, Longfellow, completed a full redevelopment of the 143,616-square-foot property since the partnership acquired the asset in 2015, transforming it into a class A, LEED Gold certified laboratory building. The team’s conversion included a comprehensive redevelopment of the asset’s core and shell, b
