Image courtesy of Newmark

A recapitalization of Biogen’s U.S. headquarters values the Kendall Square property at $476 million, an increase of 75 percent from its last change of ownership in 2015.

An undisclosed global institutional investor acquired a partial interest in the 305,212-square-foot office building at 225 Binney St., according to Newmark’s capital markets team which brokered the transaction. The price equates to $1,660 per square foot.

The property, which contains Biogen’s executive offices, previously was recapitalized in 2015. TIAA-CREF bought a 70 percent stake from Alexandria Real Estate Equities for $190.1 million, valuing the property at $271.6 million.

225 Binney is part of Alexandria’s 2.4 million-square-foot Alexandria Center at Kendall Square, a 10-building portfolio that’s 98.9 percent leased.

Biogen HQ Gets New Investor in $476M Deal

by Steve Adams time to read: <1 min
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