GI Partners has bought 451 D Street in Boston. The property is a state-of-the-art life sciences, data center and creative office asset leased to some of the biotechnology industry’s most promising firms and multiple established data center operators.
The financial terms were not disclosed; however, the seller, Related Fund Management, will retain a minority interest in the ownership of the property.
The 479,000-square-foot property has recently undergone two major phases of lab conversion that total more than half of the building’s rentable area. It is a well-located, highly functional destination asset for rapidly growing life sciences firms in need of high-quality, flexible and modern lab infrastructure to help them source talent and funding and create competitive advantages in the marketplace.
“We are thrilled to acquire a critical piece of what we believe to be one of the most important life sciences ecosystems in the country, alongside our partners at
