Alexandria Real Estate Equities, Inc. agreed to acquire 225 and 235 Presidential Way in Greater Boston from Piedmont Office Realty Trust, Inc. for approximately $120 million.
January 03, 2022
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Alexandria Real Estate Equities, Inc. (NYSE:ARE) agreed to acquire 225 and 235 Presidential Way in Greater Boston from Piedmont Office Realty Trust, Inc. (NYSE:PDM) for approximately $120 million on January 4, 2022. The transaction is expected to close in first quarter of 2022.
Piedmont Office Realty Trust, Inc. is a fully integrated, self-managed real estate investment trust (REIT). The Company is an owner, manager, developer, redeveloper, and operator of Class A office properties located primarily in major United States Sunbelt markets. The Company conducts business through its wholly owned subsidiary, Piedmont Operating Partnership, L.P. (Piedmont OP). It owns and operates about 51 in-service office properties comprised of approximately 17 million square feet of primarily Class A office space which are 87.1% leased. It has one redevelopment asset comprising about 127,000 square feet in Orlando, Florida. The Companyâs portfolio of properties is primarily located in various metropolitan areas, including Atlanta, Dallas, Northern Virginia/Washington, D.C., Boston, Orlando, Minneapolis, and New York, and others.
Alexandria Real Estate Equities, Inc. agreed to acquire 225 and 235 Presidential Way in Greater Boston from Piedmont Office Realty Trust, Inc. for approximately $120 million.
PIEDMONT OFFICE REALTY TRUST, INC. 
