BioMed Realty has acquired Flatiron Park located in Boulder, Colo.
The financial terms were not disclosed. The seller was a joint venture of Crescent Real Estate, Goldman Sachs Asset Management’s Real Estate Business, and Lionstone Investments.
The 1 million-square-foot, 22-building, life science-and-office campus is 90 percent leased to a mix of industry-leading technology and life-science firms. Flatiron Park provides BioMed with the unique opportunity to expand its portfolio beyond its existing core markets and invest in the vibrant, growing, talent-rich community of Boulder.
“With this significant investment in Boulder, we’re delighted to become a part of this innovation-based community,” said Jon Bergschneider, president of West Coast markets at BioMed Realty. “In addition to BioMed’s initial investment, BioMed anticipates investing an additional $200 million in redevelopment costs over time, which is expected to create nearly 400 new local cons
