Bain Capital closes sale of life science property in Boston

Bain Capital Real Estate, the real estate investing business of Bain Capital, has completed the sale of a class A life science property located in the heart of Cambridge, Mass. The property, located at 1030 Massachusetts Ave., has been sold to a publicly traded REIT in a transaction valued at $128 million.

Occupying a location in Harvard Square and with direct access to premier research institutions, 1030 Massachusetts Ave. was converted into a class A, LEED gold-certified laboratory building in 2013. Today, the fully leased, four-story, 77,805-square-foot property is the closest privately-owned laboratory/office building to Harvard University and is situated within walking distance of the Massachusetts Institute of Technology.

Bain Capital Real Estate acquired 1030 Massachusetts Ave. in 2016 with its operating partner on this asset, Longfellow Real Estate Partners, who had completed the 2013 conversion.

The Bain Capital Real Estate team has invested in more tha