July 7, 2016
Capital One Financial Healthcare Solutions, headquartered in Bethesda, MD, committed $125 million, and operated as joint lead arranger and joint documentation, in Blackstone Group’s $1.1 billion buy of 17 life science and medical buildings belonging to BioMed Realty Trust. The transaction has helped finance Blackstone’s larger acquisition of BioMed Realty Trust earlier this year.
The entire portfolio totals approximately 2.2 million square feet, with facilities in Cambridge, MA, San Francisco, San Diego and Seattle. Financing was led by Citi Group and MUFG Union Bank. The assets include some of the most advanced laboratory and biotech buildings in the United States.
“Because laboratory and biotechnology buildings have such demanding specifications, they are highly capital intensive,” noted Erik Tellefson, Managing Director of Capital One’s Healthcare Financial Solutions.