Hot Property: 585 Kendall

BioMed Realty has received special permit approval from the Cambridge Planning Board for 585 Kendall, a 500,000-square-foot office-lab building including community and performing arts space.

Behind BioMed’s Buying Spree

Investors in life science developer BioMed Realty’s parent, a Blackstone Real Estate fund, were in no hurry to cash out and take their profits in 2020 as the pandemic was making the biopharma sector more attractive than ever. So the private equity giant gave them a new, multi-billion-dollar option.