Boston Business Times — Taurus Investment Holdings, LLC, has acquired an Office and R&D/Lab portfolio known as the Bear Hill Portfolio located in Waltham, MA, a premier suburban Boston submarket. The Portfolio comprises eight assets, which are located along Route-128 in the heart of suburban Boston's nationally-recognized Route-128 Central corridor.
Totaling 220,000 square feet (125,000sf of Office and 95,000sf of R&D/Lab), the Portfolio offers space to accommodate the growing demand for high-quality office, lab, and R&D space from the region's expanding financial, technology, and life sciences sectors. The 70.0% occupied Portfolio was purchased for $35,500,000 ($160 per foot).
"Taurus was excited to have acquired a set of well-located Waltham assets. Waltham has historically been considered Boston's preeminent suburban office market, but has recently seen an influx of life science companies as well. As Waltham becomes a more dynamic market, the Bear Hill Portfolio will be well positioned to accommodate the needs of a variety of prospective tenants," noted Taurus CEO Peter Merrigan.
Brookline Bank and A-10 Capital provided the financing for the Portfolio. Eastdil Secured brokered the transaction.