Real Estate: IQHG Locks Up 109 Brookline in Fenway Area of Boston

February 20, 2020 | Investments, News, Real Estate
https://dailyalts.com/wp-content/uploads/2020/02/57e4d540425aac14ea898579ce203e7c1d22dfe05b53734b7d2a7ed5_640.jpg

IQHQ has come off a recent successful $770-million capital raise and acquired 109 Brookline in the Fenway section of Boston for $270 million.

The building was acquired form Commonwealth Equity Partners (NYSE: EQC). This REIT has been selling noncore properties for years now and accumulating cash to reinvest when the markets pull back.

Commonwealth and IQHQ

109 Brookline is a 285,000-square-foot office, medical and laboratory building that is 99% leased to Beth Israel Deaconess Medical Center, Dana-Farber Cancer Institute, and Boston Children’s Hospital. It also leases to Toast, a fast-growing technology startup firm.

IQHQ changed its name earlier this month from Creative Science Properties. It also completed a $700 million capital raise via a private placement and equity-specific equity investments. The name change and capital raise were part of the company’s representation of the company’s focus on identifying real estate opportunities and environments tailored to the needs of life science operators.

IQHQ intends to focus on life sciences projects in its core markets of Boston, San Francisco and San Diego in the United States, and the Golden Triangle in the United Kingdom.

John Bonanno, CIO of IQHQ commented on the deal.

“Boston’s amazing life sciences cluster keeps fueling demand for high-quality space,” Bonanno said. “109 Brookline checks a lot of boxes for us—it’s adjacent to Fenway Center, easily accessible by public transportation, and in a neighborhood with a history of full occupancy and a bright future. It fits in with IQHQ’s long-term plans to invest in projects that support the growth of the life sciences sector.”

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/01/Bink-app-shot.png
FinTech: Lloyds To Acquire Stake In Loyalty App Bink
January 4, 2022     FinTech, News

Lloyds Banking Group (LON: LLOY), Britain’s biggest mortgage provider, will acquire a minority stake in loyalty app Bink, according to a report by Sky News for an undisclosed amount that…

https://dailyalts.com/wp-content/uploads/2022/01/Screenshot-2022-01-04-at-22-29-49-Screenshot-Pawson-2.png
Digital Assets: Coinbase CEO Armstrong Said To Have Splurged $133M On Home In LA
January 4, 2022     Digital Assets, News, Real Estate

An iconic property in Bel Air, Los Angeles, designed by internationally acclaimed English architect John Pawson changed hands last month for $133 million and the buyer was Coinbase (NASDAQ: COIN)…

https://dailyalts.com/wp-content/uploads/2022/01/47752022922_e4569a2f0e_c.jpg
Alternative Investments/ESG: VegTech Invest Launches Plant-Based Innovation & Climate ETF

VegTech Invest advisory has launched the VegTech Plant-based Innovation & Climate ETF (Ticker: EATV), its first financial product. The ETF offers exposure to publicly traded companies actively innovating with plants…

https://dailyalts.com/wp-content/uploads/2022/01/Screenshot-2022-01-04-at-18-48-26-超·世界.png
Venture Capital: Chinese AI Startup Parametrix Raises $100M, Turns Unicorn
January 4, 2022     Artificial Intelligence, News, Venture Capital

Chinese AI company Parametrix.ai has raised $100 million in a Series B round led by Sequoia China and joined by existing investors 5Y Capital and Gaorong Capital. Though the valuation…