The representation of landlords, tenants, developers and investors in life sciences transactions calls for sophisticated experience in light of the peculiar issues associated with startups, heavy upfront investment, integrity of laboratory space, environmental matters, security, decommissioning and related concerns. Over the past few years, we have represented owners and developers in the development and leasing of millions of square feet of life sciences space, and we have helped companies buy and sell billions of dollars of life sciences properties, either through joint ventures or in fee. Our unsurpassed experience in this sector includes the acquisition, development and leasing of numerous pharmaceutical research, development and manufacturing facilities, as well as complex restructurings of distressed leases and projects.
Representative matters include:
- the acquisition of the 7-building office, lab and retail One Kendall Square complex in Cambridge, Massachusetts for over $700 million;
- the acquisition for over $500 million and leasing of the Arsenal on the Charles complex in Watertown, Massachusetts;
- the acquisition for over $750 million and conversion to laboratory use of a two-building complex in Cambridge, Massachusetts;
- the acquisition, development and financing, with venture partners, of Longwood Center, a 400,000 square foot lab and office building in Boston’s Longwood Medical Area leased to Dana Farber Cancer Institute, Brigham and Women’s Hospital and Children’s Hospital;
- the leasing on behalf of landlords and tenants of millions of square feet of lab space;
- a $350 million transaction on behalf of the owner and developer of the first ever proton therapy center in New York City including multiple layers of debt and equity financing and negotiations with the city, a hospital consortium, providers of proton equipment and other parties. The tenant is a consortium of New York hospitals including Memorial Sloan Kettering and Mt. Sinai. The developer acquired the land from New York City's Economic Development Corporation;
- counseling a global pharmaceutical company in the development of its more than million-and-a-half square foot campus in Cambridge, Massachusetts.