M&A Deal Summary

Harrison Street Real Estate Capital Acquires Massachusetts Institute of Technology - Osborn Triangle

On May 17, 2019, private equity real estate Harrison Street Real Estate Capital acquired real estate company Massachusetts Institute of Technology - Osborn Triangle from Massachusetts Institute of Technology

Acquisition Highlights
  • This is Harrison Street Real Estate Capital’s 2nd transaction in the Real Estate sector.
  • This is Harrison Street Real Estate Capital’s 2nd transaction in the United States.

M&A Deal Summary
Date 2019-05-17
Target Massachusetts Institute of Technology - Osborn Triangle
Sector Real Estate
Buyer(s) Harrison Street Real Estate Capital
Sellers(s) Massachusetts Institute of Technology
Deal Type Divestiture

Target

Massachusetts Institute of Technology - Osborn Triangle

United States
Massachusetts Institute of Technology's Osborn Triangle is a state-of-the-art, multi-tenant office and laboratory complex located in East Cambridge/Kendall Square alongside some of the world’s top educational and research institutions. Osborn Triangle is directly adjacent to MIT’s campus. The complex encompasses three buildings – 610 Main Street North, 1 Portland Street, and 700 Main Street – with 676,917 square feet and an associated 650-space parking garage. Each building has been either recently renovated or built and the property is complemented by vibrant street-level retailers: Sulmona (Italian restaurant), Café Luna, Revela (an Aveda salon) and Boston Burger Company. The complex is fully leased to seven tenants and includes three anchor tenants: Pfizer, Inc., Novartis International AG, and LabCentral, an incubator for high-potential life-sciences and biotech startups.

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Buyer(S) 1

Buyer

Harrison Street Real Estate Capital

Investor Investor Investor Investor Investor

website

Category Private Equity Real Estate
Founded 2005
PE ASSETS 53.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Harrison Street Real Estate Capital is a an alternative asset management firm principally focused on real assets. These include student housing, senior housing, medical office, and storage properties. The Firm will consider opportunities throughout North America and Europe. Harrison Street Real Estate was established in 2005 and is headquartered in Chicago, Illinois.

DEAL STATS #
Overall 2 of 3
Sector (Real Estate) 2 of 3
Type (Divestiture) 1 of 1
Country (United States) 2 of 2
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-02 Campus Crest Communities

Charlotte, North Carolina, United States

Campus Crest Communities is an owner and manager of high-quality student housing properties located close to college campuses in targeted markets. Campus Crest Communities was founded in 2004 and is based in Charlotte, North Carolina.

Buy $1.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-26 Pioneer Group

London, United Kingdom

Pioneer Group is a nationwide business to combine direct business support with the investment and development of new lab space. Providing ecosystems for growth and allowing ambitious businesses to tap into the expertise and networks of other companies connected across the globe. Pioneer Group was founded in 2020 and is based in London, United Kingdom.

Buy -

Seller(S) 1

SELLER

Massachusetts Institute of Technology

Cambridge, Massachusetts, United States

website

Category Company
Founded 1861
Sector Education
DESCRIPTION

Massachusetts Institute of Technology, is a education institute.

DEAL STATS #
Overall 2 of 2
Sector (Real Estate) 1 of 1
Type (Divestiture) 2 of 2
Country (United States) 2 of 2
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-25 Semprus BioSciences

Cambridge, Massachusetts, United States

Semprus BioSciences Corp. is a provider of complication-free medical devices.

Sell $30M
Mergr

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