BioMed Realty (BMR) to Acquire Cambridge, MA, Property in $119M Deal
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BioMed Realty Trust, Inc. (NYSE: BMR) today announced that it has entered into a definitive agreement to acquire Cambridge Place, comprising three buildings and a total of approximately 287,000 square feet of space in Cambridge, Massachusetts. In aggregate, the property is approximately 80% leased, principally to CDM Smith, Inc., a full-service engineering and construction firm, and Idenix Pharmaceuticals, Inc. (NASDAQ: IDIX), a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral and other infectious diseases.
The purchase price for the property is approximately $119.0 million, excluding closing costs. The acquisition is subject to the satisfaction of customary closing conditions, and BioMed Realty can offer no assurances that the acquisition will close on the terms described herein, or at all.
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The purchase price for the property is approximately $119.0 million, excluding closing costs. The acquisition is subject to the satisfaction of customary closing conditions, and BioMed Realty can offer no assurances that the acquisition will close on the terms described herein, or at all.
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