Barings pays $132m for suburban Boston class A life sciences asset

Barings has paid $132 million for One Patriots Park, a 144,000-square-foot class A life sciences asset in the Boston suburb of Bedford, Mass., from privately held real estate investment firm Jumbo Capital Inc.

A two-story building set on 14.4 acres, One Patriots Park is fully leased to four cutting-edge life sciences tenants and contains high-quality, modern buildouts including Biosafety Level 2 and 3 laboratories. Barings intends to execute on value enhancements through the renovation of remaining first-generation lab space.

“This investment is a fantastic addition to our platform and illustrates Barings’ commitment to sourcing diversified opportunities in specialized asset classes,” said Kevin Miller, Barings head of real estate acquisitions, eastern United States. “This acquisition represents our core real estate investment strategy, and we’re excited about future opportunities to generate value through additional conversion to lab and mark-to-market leasi