Debra A. Cafaro

Blackstone sells properties of Baltimore biopark developer for $1.5 billion

Blackstone sells properties of Baltimore biopark developer for $1.5 billion

A Chicago-based real estate investment trust has agreed to acquire the real estate assets of Baltimore-based biopark developer Wexford Science & Technology for $1.5 billion in cash.

Ventas Inc. said Tuesday it signed an agreement to purchase most of Wexford's life science and medical real estate properties from affiliates of Blackstone Real Estate Partners VIII L.P.

The Blackstone Group, a New York-based investment firm, acquired Wexford parent Biomed Realty Trust in an $8 billion deal earlier this year.

Ventas is acquiring 25 Wexford properties, including buildings in the University of Maryland BioPark on Baltimore's west side, that are leased by 11 universities,...

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