WASHINGTON (dpa-AFX) - BXP (BXP) has agreed to sell a 45% interest in two
life sciences development properties located in Kendall Square in Cambridge,
Massachusetts, to Norges Bank Investment Management at a gross valuation of
approximately $1.66 billion. The properties are 290 Binney Street and 300 Binney
Street. BXP will retain a 55% interest in the joint ventures and will provide
development, property management, and leasing services for the ventures.

290 Binney Street is a 16-story, 570,000 square foot laboratory/life sciences
property currently under construction and 100% pre-leased to AstraZeneca. 300
Binney Street is a six-story property currently under redevelopment into 240,000
square feet of laboratory/life sciences space and 100% pre-leased to the Broad
Institute.



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