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ioMed Realty, a leading life science real estate operator and Blackstone portfolio company, has acquired a majority stake in the 75 Broadway project in Cambridge, Massachusetts. The joint venture partnership with MIT Investment Management Company will bring to life a 585,000 square foot development that is fully pre-leased to Biogen, a pioneering biotechnology firm.

    The property, set to span 16 stories and incorporate cutting-edge design elements, will serve as Biogen's global headquarters, consolidating its operations in the heart of Kendall Square. This acquisition marks BioMed Realty's continued growth in the Boston-Cambridge region, solidifying its position as one of the largest owners of life science real estate.

    "We're excited to partner with MIT on this world-class project," said Bill Kane, President of East Coast and UK Markets at BioMed Realty. "75 Broadway will provide critical infrastructure for Biogen's research and development."

    Construction is set to begin in 2025 as part of the Kendall Common redevelopment, a 10-acre site that will eventually feature eight buildings with residential, office, lab, retail, and community uses. This acquisition follows recent purchases by BioMed Realty, including 150 Second, 11 Hurley, and 215 First in Cambridge, expanding its Boston-Cambridge portfolio to 9.7 million square feet.