Joint Venture Acquires 166,000 SF Office Building in Metro Boston, Plans Life Sciences Conversion

by Taylor Williams

BEDFORD, MASS. — A joint venture between Redgate, Optimum Asset Management and AEW Capital Management has acquired a 166,000-square-foot office building in the northwestern Boston suburb of Bedford with plans to implement a life sciences conversion program. Tom Sullivan and Ross Fishman of Cushman & Wakefield arranged $82.2 million in acquisition and conversion financing through Ares on behalf of the joint venture. A construction timeline was not disclosed.

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