Boston-based Longfellow Real Estate Partners is making a $321 million bet on the future of life science in the San Francisco area with a minority investment in a nearly 1-million-square-foot tech park.

Longfellow is buying a 49 percent stake of the Bayshore Technology Park, a 20-building complex in Redwood City, from PGIM Real Estate which will remain the majority owner, Real Estate Alert reported. The complex is 90 percent leased.

Eastdil Secured represented PGIM in the transaction, which values the property at $657 per square foot.

It’s the second West Coast acquisition for Longfellow this fall, following the $112 million purchase of a 319,000-square-foot office campus in San Diego.

In July, Longfellow announced that it raised $500 million for a new Strategic Value Fund that will acquire tech and life science properties.

Longfellow Makes $321M Bet on West Coast Life Science

by Steve Adams time to read: 1 min