BioMed Realty to acquire a majority stake in 75 Broadway from MIT Investment Management Company.

BioMed Realty, a company specializing in life sciences real estate, agreed to acquire a majority stake in 75 Broadway, a pre-leased development project focused on lab and office space in Cambridge, from MIT Investment Management Company, an investment management company. Financial terms were not disclosed. “We are thrilled to partner with MIT in the development and activation of this world-class lab and office asset in the heart of Kendall Square. 75 Broadway will provide mission-critical infrastructure to Biogen that enables the development of the next generation of life-saving medicines and therapies,” Bill Kane, BioMed Realty President, East Coast and UK Markets.