A sovereign institutional investor has bought a 45-percent stake in the Vertex Pharmaceuticals headquarters on Boston’s Fan Pier for $261 million.
Newton-based Senior Housing Properties Trust, which acquired the buildings at 11 Fan Pier and 50 Northern Ave. in 2014 for $1.1 billion, said Monday it has formed a joint venture with the unidentified passive investor. The deal is based upon a valuation of $1.2 billion with $620 million in debt.
Vertex leases 95 percent of the two 15-story buildings developed by The Fallon Co. of Boston.
SHPT will use the proceeds to repay a part of its revolving credit facility, the company said in a press release.
Eastdil Secured represented SHPT and Sullivan & Worcester LLP provided legal counsel.