A life sciences subsidiary of Hong Kong–based Nan Fung Group has acquired 51 Sleeper Street in Boston’s Fort Point and Seaport District for $115 million.
The seller was Brookfield Properties, which acquired the property in 2018 for $91 million.
Nan Fung Life Sciences Real Estate plans to convert the 152,102-square-foot, eight-floor building to a 50/50 mix of office and lab space.
Nan Fung Life Sciences has $1.5 billion of capital commitment from Nan Fung Group to invest into life sciences and has invested in 46 portfolio companies to date.
