IQHQ Expands Boston Real Estate Portfolio With the Acquisition of 109 Brookline Avenue
Newly formed REIT purchases prized asset in the heart of a growing Fenway market
BOSTON–(BUSINESS WIRE)–IQHQ, Inc., a premier life sciences real estate development company, today announced it has acquired 109 Brookline Avenue, a 285,000 square-foot lab and office building that features top medical, technology, research and laboratory companies affiliated with the neighboring Longwood Medical Area. The purchase price was not disclosed.
The acquisition follows the recent announcement of the successful completion of IQHQ’s $770 million capital raise that will enable the company – formerly known as Creative Science Properties – to invest in 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.
“Boston’s amazing life sciences cluster keeps fueling demand for high quality space,” said John Bonanno, Chief Investment Officer of IQHQ. “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.”
The building is located along the corridor between Kenmore Square and the Longwood Medical Area, which is home to some of the country’s leading medical and research institutions. Many of those companies currently lease space in 109 Brookline.
ABOUT IQHQ
IQHQ, formerly Creative Science Properties, empowers the life science community to thrive and succeed by creating and developing environments that inspire progress and give innovation a home to grow. IQHQ’s focus is to acquire, develop and operate life science properties in the innovation hubs of San Francisco, San Diego and Boston in the United States, and the Golden Triangle in the United Kingdom. IQHQ has offices in San Diego and Boston. To learn more, visit www.iqhqreit.com.
Contacts
For IQHQ
Dom Slowey
781-710-0014
dslowey@sloweymcmanus.com
Travis Small
617-538-9041
tsmall@sloweymcmanus.com
