We are pleased to announce that Argosy Real Estate Partners has exited its Boston Life Sciences Portfolio (the “Portfolio”) investment. The Portfolio consists of two properties: the Billerica Property, a 91,600-square foot biological office laboratory building entirely leased to a publicly-traded life sciences company and the Natick Properties, a two-building campus totaling 30,600 square feet of office, chemical laboratory, and warehouse space. The Portfolio had an overall occupancy of 75% at the time of sale.

Argosy, in partnership with Spaulding & Slye Investments (together, the “Partnership”), acquired the Portfolio off-market in November 2017 from a corporate seller. The purchase price was below replacement cost, and approximately equivalent to the value of the existing fit-out and equipment. In December 2019, the Natick Properties were sold to a Dallas-based real estate firm. In January 2020, the Billerica Property was sold to a real estate company with a focus on life sciences properties.