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An affiliate of life science REIT Alexandria Real Estate Equities sold a large Andover industrial property for $67.3 million earlier this month.

The sale of 60-100 Minuteman Road comes as Alexandria engages in a campaign to sell “non-core” assets in the Boston area and elsewhere as it tries to navigate through the region’s biotech real estate slump.

The buyer was an affiliate of Boston developer and investor The Davis Companies.

M&T Bank provided a $49.31 million mortgage for the transaction, according to public records.

The 383,000-square-foot part-warehouse, part-office building on 25.86 acres is currently leased to dentistry supplies, Straumann Group.

Unlike another nearby asset Alexandria sold in February, the REIT may not be taking a loss on this sale: it bought 60-100 Minuteman Road in January 2022 for $58.69 million, public records show.

The purchase was part of an eight-property, $341 million deal orchestrated by Newmark that was intended to form a new biomanufacturing complex for Alexandria to take advantage of a boom in drugmaking that never materialized.

Alexandria still appears to own the other properties in that deal, 30, 200 and 3000 Minuteman Road.

The Boston Business Journal first reported the sale.