Alexandria strikes $450M life science deal with Clarion
Alexandria Real Estate Equities has formed a Joint Venture with Clarion Partners on a 322,858 s/f life science campus in Seattle. Clarion has acquired a 70 percent interest in the property in a $450 million deal arranged by Newmark. The transaction is the largest sale completed in the state of Washington year-to-date. “This transaction marks the first core life science offering in the Seattle market in several years,” said Kevin Shannon, co-head of Newmark’s U.S. Capital Markets team which represented Alexandria. The team included executive managing directors Ken White and Rob Hannan...
Source: rew-online.com