April 18, 2005
Willkie client Lyme Properties agrees to sell a portfolio of life science/biomed properties to BioMed Realty Trust Inc. for $401 million plus $130 million in assumed debt.
On April 15, it was announced that Willkie client Lyme Properties, a subsidiary of the Lyme Timber Company, has agreed to sell a portfolio of life science/biomed properties to BioMed Realty Trust Inc., a real estate investment trust focused on biotechnology companies, for $401 million plus $130 million in assumed debt. The properties include seven life science properties and a parking structure in Cambridge, Mass., and a lab space located in Lebanon, N.H. Lyme Properties is the largest life sciences property developer in New England and the third largest in the United States. It specializes in the acquisition, development and leasing of life science and mixed-use properties located in key educational, research and medical centers. Partner Eugene Pinover and associates Peter Greenspan and Jonathan Ruby handled the transaction.