Healthcare Trust of America (HTA) has acquired 670 Albany St. at Boston University’s BioSquare in Boston’s South End for $101.5 million.
The 161,254-square-foot facility includes lab facilities, classroom space and an auditorium and is 100-percent leased to Boston University and Boston Medical Center.
The acquisition gives Scottsdale, Ariz.-based HTA a portfolio of 844,000 square feet in Greater Boston including affiliations with BMC, Steward Healthcare and Tufts Medical Center.
JLL’s Frank Petz, Jessica Hughes and Mindy Berman represented the seller, Spaulding & Slye Investments, which developed the facility in a joint venture between Boston University and Boston Medical Center.
“This asset boasts the highest-quality lab facilities as well as classroom space,” Petz said in a statement. “We’re seeing a tightening market for office/lab properties, making 670 Albany Street all the more attractive to investors.”