Oxford acquires four life sciences assets amid push into asset class
Oxford Properties Group has acquired four life sciences assets totaling 415,000 square feet and developable land in the San Francisco Bay Area and Greater Boston region, for $276 million, with anticipated follow-on investments of $500 million in the assets. The seller was a joint venture between Angelo Gordon and CCRP.
The acquisitions come as part of Oxford’s strategy to build a life sciences business in an asset class which is benefiting from clear secular trends as well as the exciting convergence of technology and science. Oxford intends to deploy an additional $500 million of capital into these investments through development of new biotech space and converting existing office and retail uses into new lab space at the San Francisco Bay Area asset and has identified value-add opportunities within the Boston portfolio.
Oxford acquired Public Market Emeryville in a partnership with City Center Realty Partners (CCRP), a San Francisco–based real estate developer an