Alloy Properties and Anchor Line Partners have formed a joint venture to acquire five life sciences buildings in Waltham and Cambridge from Alexandria Real Estate Equities for a total of $365 million. The properties, located at 225, 266, and 275 Second Ave. in Waltham as well as 780 and 790 Memorial Drive in Cambridgeport, comprise 425,000 square feet of combined space with the former purchased for $266 million while the latter acquired for $99 million.
This acquisition expands Alloy’s Greater Boston footprint to 1.8 million square feet while also granting them entry into Cambridge – an integral part of their national network strategy which aims to integrate tenants into their platform across multiple markets nationwide. Alexandria plans on selling approximately $1.5 billion worth assets this year according to Boston Business Journal .
