BioMed, Cresset, Novaya Purchase 162,000 SF Office, Life Sciences Campus in Boston

BOSTON — BioMed Realty, an owner-operator of life sciences real estate, has entered into a partnership with Cresset Development and Boston-based Novaya Real Estate Ventures to acquire the XMBLY Campus at Assembly Square in the Somerville area of Boston. The campus spans 162,000 square feet of office and life sciences space and includes 7.5 acres for additional expansion. The new ownership plans to add lab, research and development and traditional office space. A timeline for construction has not yet been established.