Front-Runner Emerges for Tech Square
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| California-based Alexandria Real Estate Equities reportedly has emerged as the front-runner to acquire Technology Square in Cambridge. |
By Joe Clements
In a head-to-head competition that fomented nearly two dozen offers and a blockbuster price said to approach $600 million, Alexandria Real Estate Equities has emerged the front-runner to acquire Technology Square in Cambridge, industry sources have told Banker & Tradesman. The seven-building portfolio is owned by the Massachusetts Institute of Technology, which is expected to retain a minority position in the complex going forward.
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