Norges Bank Investment Management and MetLife Investment Management, LLC agreed to acquire Life Science Property in the City of Cambridge from Alexandria Real Estate Equities, Inc. (NYSE:ARE) on November 26, 2021. The property comprises 532,395 square feet of life science, office and retail space. The property is valued at$1,185.2 million. Norges Bank Investment Management paid $485.9 million for its 41% stake acquired. MetLife Investment Management acquired a 25% percent interest in the property and an Alexandria retained a 34% percent interest.

Norges Bank Investment Management and MetLife Investment Management, LLC completed the acquisition of Life Science Property in the City of Cambridge from Alexandria Real Estate Equities, Inc. (NYSE:ARE) for $1.2 billion on December 15, 2021.