December 28, 2021 2:00 PM
Newmark announces the $476 million recapitalization of 225 Binney Street, a 305,212-square-foot office complex located in Cambridge, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen and Managing Director Samantha Hallowell of the firm’s Boston Capital Markets Group procured a global institutional investor for the partial interest transaction. Newmark Senior Financial Analyst William Sleeper provided financial analysis support.
225 Binney Street serves as the global corporate headquarters of Biogen (NASDAQ: BIIB), a neuroscience pioneer and the oldest independent biotechnology company in the world. Home to all of Biogen’s executive offices, the asset is an integral component of the firm’s expansive Cambridge campus.
“225 Binney Street benefits from prime positioning in Kendall Square/East Cambridge, the life science epicenter of the world,” said Maher. “The asset is surrounded by leading companies across the technology and biotechnology sectors, moments from the MIT campus and walkable to public transit.”
Situated within a 10-minute walk of the MBTA Red Line’s Kendall/MIT subway station, 225 Binney Street benefits from seamless access to key destinations throughout the rest of Cambridge and Downtown Boston.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.5 billion for the trailing twelve months ending September 30, 2021. Newmark’s company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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