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GI Partners has acquired Blackstone Science Square, a fully leased lab building in Cambridge, MA on behalf of its Essential Tech + Science Fund.

According to GI Partners, Blackstone Science Square offered it the opportunity to acquire a stabilized, highly functional lab building situated in one of the country’s largest life sciences markets. The 77,000-square-foot property had been previously converted to lab and is currently fully leased to life sciences tenants.

“Cambridge remains among the most innovative life sciences destinations in the world, and we are excited to add Blackstone Science Square to our growing portfolio,” said John Curran, principal of GI Partners. “We believe a Cambridge address is incredibly valuable to a large segment of the demand pool and the building’s proximity to some of the industry’s foundational research institutions reinforces that powerful cluster effect.”

GI Partners is a private investment firm with assets under management totaling $33 billion.

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