Norges Bank Investment Management to acquire a 45% stake in Kendall Square life sciences properties from Boston Properties for $746m.

Norges Bank Investment Management, the asset management unit of the Norwegian central bank, agreed to acquire a 45% stake in Kendall Square life sciences properties from Boston Properties, an integrated, self-administered and self-managed real estate investment trust, for $746m. “We are delighted to deepen our longstanding partnership with Norges Bank Investment Management. Their meaningful investment in BXP’s newest life sciences development in the heart of Kendall Square demonstrates the value placed by investors on well located, well leased premier workplaces with strong stewardship,” Owen Thomas, Boston Properties Chairman & CEO.