BIOMED AGREES TO BUY CAMBRIDGE PLACE FOR $119M

CAMBRIDGE, MASS. —BioMed Realty Trust has agreed to acquire Cambridge Place, a three-building complex totaling 287,000 square feet in Cambridge, for $119 million. The property is 80 percent leased. Tenants include CDM Smith, a full-service engineering and construction firm, and Idenix Pharmaceuticals, a biopharmaceutical company. When completed, the transaction will expand BioMed's real estate portfolio in the greater Boston-Cambridge market to approximately 3.2 million square feet.