Toronto-based global real estate investor and asset manager Oxford Properties Group recently announced the acquisition and long-term leaseback of a suburban Boston biomanufacturing facility. The property was sold by San Diego-based biotech company National Resilience, Inc. According to statements made regarding the transaction, the property commanded $125 million and will be leased back to its former owner for up to 30 years.

This state-of-the-art biomanufacturing facility is located at 92 Crowley Dr. in the life sciences submarket of Marlborough, Mass., west of Boston. The asset includes 120,000 square feet of Boston industrial space for life sciences and is under construction. Upon completion, which is expected to be yet this year, it will be Resilience’s flagship facility in the country. Through this sale-leaseback deal, Resilience will be able to conduct its day-to-day business operations with full use of the facility, while also raising proceeds for the company.

Meanwhile, with this purchase, Oxford increased its North American cGMP portfolio to 1.4 million square feet in existing properties. That’s in addition to projects in the development pipeline totaling more than 1 million square feet. As a result, the company’s platform now spans across six markets with the largest concentration in the Boston region, where assets add up to roughly 775,000 square feet.

“We continue to develop a robust expertise on the real estate needs of biomanufacturing, and our footprint in this space is a key pillar of our investment strategy to build a global life sciences business of scale,” said Chad Remis, Oxford EVP for North America. “GMP facilities are unique, highly technical assets and represent a segment of the life sciences market in which we have intentionally set out to become a market leader. Today’s acquisition strengthens our growing relationship with Resilience and adds another state-of-the-art, income-generating asset to our North American platform.

“Our growing relationship with Resilience is a great example of the purpose of Oxford’s life sciences business. By investing our capital and capabilities to own, manage and build life sciences real estate infrastructure, we can free up capital for our customers to focus on advancing their science and delivering the life-changing therapeutics of tomorrow.”

“Our acquisition of 92 Crowley aligns strongly with our biomanufacturing strategy,” said Christie Chen, director of investments at Oxford. “Its proximity to our existing cGMP investments in Boston provides significant operational efficiencies. Boston continues to be an unparalleled market in terms of talent, capital and research institutions and we will continue to deliver new real estate infrastructure into the region to support its growth and position as the global leader in life sciences. This conviction is evidenced by three cGMP developments that we are undertaking in the Boston market to serve the growing demand for biopharmaceutical manufacturing.”

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