February 28, 2020
An affiliate of Hong Kong-based Nan Fung Group has acquired 51 Sleeper St. on the edge of Boston’s Fort Point and Seaport District from Brookfield Properties, the Boston Business Journal reported.
Boston-based Nan Fung Life Sciences Real Estate paid $115 million for the 152,102-square-foot property, according to Suffolk County property records. Brookfield acquired 51 Sleeper for $91 million in late 2018, and planned to reposition the property as Three Seaport. Nan Fung Life Sciences Real Estate plan to convert the property to a 50/50 mix of office and lab space.
“The need for innovative and scalable research laboratory space in Boston is high. We are proud to be able to provide the resources for more companies to grow here,” said Matthew Powers, CEO of Nan Fung Life Sciences Real Estate. Powers launched Nan Fung’s Boston office in November 2019.
Image courtesy of Brookfield Properties.
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