33 New York Ave., Framingham. Photo courtesy of King Street Properties

Major life science developer King Street Properties has sold three Framingham properties to the investment arm of a major Canadian pension fund.

Oxford Properties Group bought 33 New York Ave., 1 Mountain Road and 5 Mountain Road for $151 million from a partnership of King Street and investment firm The Carlyle Group. Oxford is the investment arm of the Ontario Municipal Employees Retirement System.

The joint venture purchased 33 New York Ave., the former printing press and newsroom for the MetroWest Daily News, for $9.3 million in 2018 and built a large addition that brought the property to 113,527 square feet, converting the entire space to biomanufacturing and research and development space. The property is leased to cancer researcher Replimune Group and biotech CRISPR Theraputics.

King Street and Carlyle followed that project up with their acquisition of the nearby 1 and 5 Mountain Road properties, previously home to Sanofi Genzyme, for $20.5 million in 2019. Following Sanofi’s departure, King Street developed plans to convert the 153,000-square-foot office and lab complex to a multi-tenanted R&D facility.

“Our success with both of these assets confirms our confidence in the long-term strength of the life sciences real estate market, and the specific need for biomanufacturing space in our state,”  Thomas Ragno, principal at King Street, said in a statement.

Frank Petz and John Nasca of Colliers International represented the sellers in the transaction.