Oxford Properties Group has acquired a nine-property, 13-building life-sciences portfolio in San Diego for $464 million. The acquisition marks Oxford’s entrance into the San Diego market.
The seller is BioMed Realty.
“Our team continues to create sustained, yet highly targeted growth against one of our highest conviction global investment strategies to build a dedicated life science business of scale,” said Chad Remis, executive vice president, North America at Oxford. “Today’s acquisition adds high quality, income producing assets to our growing portfolio and perfectly complements the beginning of our development pipeline in San Diego. Life Science portfolios of this size rarely trade, so it presents a unique opportunity to add immediate scale in a globally significant life science market that is characterized by high barriers to entry.”
The acquired portfolio is 98-percent leased, with 12 of 13 buildings centrally located within San Diego’s Sorre
