Harrison Street, along with partners The Bulfinch Cos. — a Boston-based private real estate investment, development and management firm — and National Real Estate Advisors, on behalf of their clients, announced the sale of Cambridge Discovery Park (CDP), a three-property life sciences campus in Cambridge, Mass., at a gross sale price of $720 million. The sale represents the first realization for Harrison Street’s 2018 Vintage Year fund. Bulfinch will continue to serve as property manager and maintains an ownership interest in the park.
The portfolio includes three class A life sciences buildings and two parking garages totaling approximately 620,000 square feet located at 100 CDP, 200 CDP and 400/500 CDP in the West Cambridge submarket of Boston. In partnership with Bulfinch and National, Harrison Street initially invested in the development of 400/500 CDP in December 2018, which had no tenants at the time, and in eight months leased 88 percent of the property prior to
