A newly-formed REIT that recently raised $770 million for acquisitions in Greater Boston and other life science hubs has made another local acquisition.
IQHQ Inc. paid $36 million to buy the 4 Corporate Drive campus in Andover from Eisai Inc.
Eisai Inc. vacated the 201,500-square-foot Andover property and moved into a 50,000-square-foot dementia research center at The Davis Cos.’ new Alewife Research Center in Cambridge.
In February, IQHQ acquired a 285,000-square-foot office building at 109 Brookline Ave. in Boston for $270 million. Previously it joined Meredith Management on the development team for Fenway Center, a 720,000-square-foot office-lab project planned for a Massachusetts Turnpike air rights parcel.
IQHQ said it’s planning to concentrate on acquisitions in Greater Boston, San Francisco, San Diego and the United Kingdom.