Blackstone (NYSE:BX) and co-investors say they agree to sell BioMed Realty, the most important non-public proprietor of life science workplace buildings within the U.S., for $14.6B to a gaggle led by current BioMed buyers.

Present BioMed buyers had been provided the choice to exit for money or reinvest their proceeds from the sale.

Blackstone says the $14.6B sale value quantities to a $6.5B acquire in worth from the 2016 buy of BioMed Realty; the corporate says the revenue is the third highest achieved by any Blackstone fund, behind solely tendencies of Hilton Motels Worldwide and Fairness Workplace Properties Belief.

Blackstone and its buyers’ resolve to carry on to the corporate – the first time Blackstone actual property funds have executed this type of deal – is the most recent signal of intensifying demand for the fast-growing life science real estate niche.

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