Senior Housing Properties To Buy Boston Biotech Bldgs For $1.13B

Senior Housing Properties Trust (NYSE: SNH) has agreed to acquire two 15-story biotech buildings in Boston’s thriving Seaport District for a purchase price of $1.125 billion.

The buildings developed and owned by The Fallon Co. LLC include biomedical research facilities, corporate office space, structured parking and street-level retail totaling 1.65 million total gross square feet, including two 15-story newly constructed LEED Gold-certified buildings at 11 Fan Pier Blvd. and 50 Northern Ave.; 50,000 square feet of ground-level retail, and 390,000 square feet of subterranean parking. [Read more…]